Bitcoin News

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