Ripple XRP Twitter hype-to-activity ratio has soared to a new record high while other currencies are also enjoying some level of freedom there.
In a recently released report, The Tie.io reported about cryptocurrencies that are much discussed in Twitter but remain inactive. These cryptocurrencies showed high “Hype-to-Activity” ratios on Twitter. Twitter has been acting as a social indicator about cryptocurrencies and has also become a battleground for scam bots.
The “Hype-to-Activity” ratio is measured by comparing the number of hashtags (#) of tweets the cryptocurrency has with the trade volume in units of one million US dollars ($1,000,000). During the making of the report, more than four hundred and fifty (450) cryptocurrencies were researched and their hype to activity ratios measured.
Ripple (XRP), the third-largest cryptocurrency had a Hype-to activity ratio of slightly above four (4.07). While Ethereum and Bitcoin had ratios slightly above one and one and a half respectively. 1.72 and 1.17, respectively. This was after ignoring more popular hashtags like #XRPCommunity, #XRPTheStandard, and #XRPArmy with which the ratio increases to 6.66 as more than thirty percent of those tweets had these tags.
XRP’s hashtag, although controversial, has always been among the most popular crypto hashtags on Twitter. Moreover, Ripple has many partnerships and business collaboration that add to its popularity across social media. Furthermore, many accounts exist solely for the purpose of supporting the Ripple ecosystem across Twitter, making it a Mecca for XRP.
While the hype is needed in the initial stages of a cryptocurrency’s launch, it does not necessarily indicate growth in the long run. After the 2018 crash, many such hyped projects have died while scam bots have turned rampant across social media sites including Twitter. Although it may seem that these bots are easy to spot and therefore ignore or avoid many people have lost cash to these scams while the number of victims keeps piling up.
TokenPay had the highest tweets to trade volume ratio of above nine hundred (911.1), which is thirty-three million percent more than Tether. Tether is the stablecoin that recorded a trading volume of almost twenty-two billion dollars ($21.99bn) across twenty-four hours yet maintained a very low hype-to-activity ratio.