These were the 5 hottest coins on Twitter last week — And their price dynamics
Crypto Twitter is a powerful place. Not only does the online discussion follow the ups and downs of digital assets, but it can also shape price action. Oftentimes, a spike in Twitter attention can anticipate a dramatic increase in an asset’s price. Yet, in other cases, the order can be reversed, or there may be no relationship between price and Twitter chatter at all.
To harness the power of Twitter and use it as a tool for profit generation, crypto traders need two things: The first is the ability to quickly spot spikes in social attention around specific assets, while the second is sound judgment to tell if the anomaly is indeed a harbinger of an impending rally. While there are reliable algorithmic tools that cover the first ingredient — such as Cointelegraph Markets Pro’s Unusual Twitter Volume indicator — the latter requires instincts and experience.
The following examples of assets that showed the largest week-to-week increase in tweet volume illustrate various scenarios around the relationship between price and Twitter conversation.
CREAM, the native token of decentralized finance project Cream Finance, sported the greatest week-to-week tweet volume increase as conversation around the asset grew 543% more extensive. The reason for the popular excitement was the announcement that holders could stake their CREAM to receive the tokens of the upcoming Iron Bank, Cream Finance’s new protocol-to-protocol lending platform.
As visible in the chart, the price hike that began to unfold on Jan. 13 went hand in hand with the intensifying tweetstorm. The discussion peaked on Jan. 14 when 216 tweets referencing CREAM were posted, against a price of around $72. Even as the chatter began to recede, the token continued to add value,
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