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Elon Musk tweets and Twitter bot spam influences altcoin prices: Study

The study also questioned whether FTX or Alameda had any role in coordinating Twitter bot activity for its own gain. Crypto-spouting Twitter bots could be playing a much larger role in artificially inflating the price of altcoins than previously understood, a new study has suggested. Using a sample of various FTX-listed cryptocurrencies in a study published Aug. 2, the Network Contagion Research Institute (NCRI) said it analyzed over 3 million tweets posted between Jan. 1, 2019, to Jan. 27, 2023, surrounding 18 altcoins. The study found that Twitter bot activity played a crucial role in amplifying the value of these cryptocurrencies, including The Sandbox SAND tickers down $0.41, Gala GALA tickers down $0.02, Gods Unchained (GODS) and LooksRare (LOOKS), with half of the coins showing signs of price influence as a result of tweet bot activity. It also found that these inauthentic tweets would increase after FTX posted about the token on social media, which it said raises question
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Bitcoin Stuck at $29K, Ether at $1.8K as Market Awaits Fed Decision

  The market is waiting for the Fed’s next move, or clarity around an ETF, say analysts By  Sam Reynolds ,  James Rubin Jul 26, 2023 at 4:22 a.m. Updated Jul 26, 2023 at 1:57 p.m. Bitcoin daily price chart (CoinDesk Indices) Bitcoin (BTC) and ether (ETH) were mimicking the dullness of traditional finance ahead of Wednesday’s key FOMC rate decision during the Asia trading day. The world’s largest digital asset changed virtual hands at $29,213  according to CoinDesk data , while  ether moved at $1,853 as east Asia's day came to a close. A big breakout isn’t going to come until the Fed changes course on rate decisions, or the Securities and Exchange Commission approves a bitcoin ETF, say analysts. Bitcoin zoomed above $30,000 about a month ago after finance giant BlackRock's application for a bitcoin ETF spurred speculation this – if the world's largest asset manager wins regulatory approval – could funnel large amounts of money from conventional investors into digital assets.
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Major Cryptocurrencies in The Green as Bitcoin Rallies Over $8,100

NEWS Wednesday, June 12 — Top  cryptocurrencies  bitcoin ( BTC ), ether ( ETH ), and ripple ( XRP ) are all in the green. Cryptocurrencies on the whole are trending up today, according to data provided by Coin360. Market visualization courtesy of  Coin360 After peaking around $9,000 in May, BTC crashed down to under $8,000 but seems to be slowly recovering. BTC was  trading  just shy of $8,000 earlier today, and is now trading at $8,130 at press time. Overall, the top cryptocurrency is up by approximately 2.72% over teh past 24 hours at press time. Bitcoin 7-day price chart. Source:  Coin360 Top altcoin and number two cryptocurrency ether is trending up by over 6%, and has recovered to trade at $260 at press time. Ether, the market capitalization of which is currently $27.7 billion, dipped to $229.32 earlier this week. Ethereum 7-day price chart. Source:  Coin360 The third token by market cap, XRP, has also seen a moderate gain on the day, trading at $.401
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Fidelity Confirms Crypto Rumors, Recognizes Potential Of Bitcoin

Fidelity’s Crypto Platform In “Final Testing” The broader crypto industry was shocked on  mid-October , when Fidelity Investments, a Boston-based investment giant with tens of thousands of clients, and similarly impressive assets under management, revealed that it would be launching a pro-Bitcoin crypto platform. This platform, now known as Fidelity Digital Assets Services (FDAS), headed by Tom Jessop, was marketed as a way for Fidelity’s 13,000 institutional clients to gain access to top-of-the-line cryptocurrency custody and trade execution. While many were caught off guard by this announcement, Jessop explained in an  interview  with Laura Shin, a leading crypto journalist, that Fidelity’s Bitcoin ambitions started in 2014, when the company began to research and even test the flagship cryptocurrency. Rumor has it that Fidelity also set up a semi-mining farm, likely in a bid to understand blockchain technology more in-depth. And eventually, after years of experimentation, th
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There Is No ‘Bitcoin’: What the SEC Doesn’t Get About Cryptocurrency

Edan Yago is the founder of  CementDAO , an effort to bring together stablecoins into a unified ecosystem.  He previously was the CEO and co-founder of software firm Epiphyte and helped set up the industry associations DATA and the Stablecoin Foundation.  The views expressed here are his own. —————————- The U.S. Securities and Exchange Commission (SEC) has been gone to significant lengths in an attempt to understand the crypto asset space. This effort is to be applauded. However, the SEC has failed to come to terms with one fundamental aspect of crypto assets and systems. Namely, properly constructed crypto systems do not involve “persons” or “entities” and do not represent a form of property. For this reason, they do not have any analogue in the traditional financial world, nor can they fall under financial regulation. In the traditional financial world, assets are a claim on a specific property. For example, a commodity, shares in a company or a debt owed. Crypto asset
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