Last month, analysis platform that studies the cryptocurrency market, The TIE revealed its findings on which digital currencies are the most and the least shilled on Twitter. In other words, which cryptocurrencies have an inflated Twitter community filled with bots and price predictions on how the specific coin will soon reach the Moon.
Surprisingly for many, the infamous XRP Ripple and Justin Sun’s project TRON is NOT among the top ten most shilled cryptos on Twitter.
Most Hyped Cryptocurrencies On Twitter
To quantify such a subjective topic, the team behind The TIE created a metric called Hype-To-Activity Ratio that calculates the number of tweets per each million-dollar of trading volume.
Overall, there is an average of 1.02 tweets per million-dollar trading volume after carefully studying 450 coins.
The analysis reveals TokenPay (TPAY) is the most shilled cryptocurrency on Twitter with a staggering 911.1 tweets per $1M trading volume.
TokenPay is indeed a project that managed to raise over $40 million during the altcoin hype of December 2017 and January 2018, promising an innovative payment platform to its investors. The project, however quickly went downhill from its ICO and couldn’t manage the cold Crypto Winter of 2018. Still, TPAY has an abnormal Twitter activity based solely on trading volume (the coin is currently placed around 460 by market cap, as per CoinMarketCap).
Electroneum (ETN) – yet another ‘revolutionary’ digital payment system – is second in the list with 678.8 tweets, followed by DragonChain (DRGN) – blockchain as a service project for enterprises & developers – with 505.3. Both coins are 100+ in terms of market capitalization position.
Telcoin (TEL) – a mobile remittance-based token – is fourth with 287.5 tweets per $1M trading volume while Digibyte (DGB) closes the top 5 list with 153.4 tweets. Digibyte is, in fact, the only top 100 cryptocurrency (currently ~50) by market cap that made it in the top 5.
Some other names included in the most shilled category are IOTA (MIOTA), Fantom (FTM), Nash Exchange (NEX), TomoChain (TOMO), and Pundi X (NPXS).
Worth mentioning is that the abnormal high hype-to-activity ratio derives from low trading volumes & not necessarily a high number of tweets.
Least Shilled Cryptocurrency On Twitter Is… Tether?
On the other side of the spectrum, Tether (USDT) followed by EOS are comfortably sitting at the top as the least ‘talked about’ cryptos on Twitter, by far.
Tether has .003 tweets per $1M trading volume but this is only natural as nobody wants to talk about a stablecoin pegged by the US Dollar with a price range between $0.99 and $1.01. Surprisingly, EOS – a project accused by many to be hyped – has just .008 tweets. EOS secured around $4 billion in ICO funding between 2007 and 2008.
The next three are much-more ‘talked about’ than the top two, but still, the Twitter volume is underwhelming compared to most cryptocurrencies: Ethereum Classic (.158), Cosmos (.230), and NEO (.231). Cosmos (ATOM) launched its Internet of Blockchains hub this spring after a $17 million ICO success back in 2017.
Bitcoin SV (BSV), TRON (TRX) – this is not a typo – Bitcoin Cash (BCH), Litecoin (LTC), and Dash (DASH) complete the top 10 LEAST shilled cryptocurrencies on Twitter.
What About Bitcoin & XRP Ripple?
The granddaddy of all, Bitcoin is not far from the average of 1.02 tweets per $1M in trading volume. According to THE TIE analysis, BTC has 1.717 tweets and has by far the highest average tweet volume with over 29,000 per 30 days. The next in line in terms of tweet volume is Ethereum with ‘just’ over 7,000.
What about XRP Ripple, you ask? Indeed, Ripple is the most hyped cryptocurrency from the top 5 with 4.07 tweets per million-dollar trading volume. If the platform included also the #XRPTheStandard, #XRPArmy, and #XRPCommunity hashtags, the ratio would spike to 6.66 and would eclipse Monero’s (XMR) ratio of 4.612, currently sitting 10th in the most capitalized cryptocurrencies list.
Nevertheless, Ripple’s ratio is far from actually competing with any of the top 20 most shilled cryptos on Twitter.
What do you think of the analysis? Are you surprised by the results? Where does your favorite cryptocurrency sit in the list? Let us know in the comment section below!
Images courtesy of Flickr, Twitter & The TIE crypto platform Twitter handle.