Over the years, Twitter has been a battleground for digital currencies. The social media platform is now a home for scam bots and FUD stompers of the digital currency market. The platform has also been used to hype a lot of digital currency projects in the market. Recently, Tie.io released a report that highlighted the majority of over-hyped digital currencies on Twitter. According to the report, a lot of less popular digital currencies with low trading volumes recorded very high Hype-to-Activity” ratio on the social media platform.
To get the ratio of Hype-to-Activity, Tie.io measures $1 million in trading volume against the hashtags of tweets for each digital currency. The platform investigated a total of 450 digital currencies. The result of the investigation is not surprising, as XRP has a very high tweet volume compared to its trading volume. The ratio for other digital currencies are relatively consistent, but that of XRP is very high.
XRP Records a High Hype-to-Activity Ratio on Twitter – Best Cryptocurrency to Invest in 2019 – Cryptocurrency News Today
The Hype-to-Activity ratio of XRP was considerably higher than that of other top digital currencies. According to the report, the platform even ignored hashtags such as #XRPTheStandard, #XRPArmy, and #XRPCommunity. Without adding these hashtags, the Hype-to-Activity ratio of XRP is 4.07. This means that the hashtags of XRP on Twitter are 4.07 times more than the trading volume of the digital currency. If the excluded hashtags are added, the Hype-to-Activity ratio would rise to 6.66. The hashtag of XRP has always been a controversial subject. However, it is known for winning the hashtag war on Twitter.
The enthusiasm in the XRP community has increased enormously due to the partnerships and developments around the crypto project. This has also helped to project to gain traction over the years. The parent firm of XRP – Ripple – has succeeded in winning a lot of banks and financial institutions over to its side. Many of them now use the products of Ripple such as XRP-powered xRapid, xCurrent, xVia, and RippleNet. These have also contributed to the hype around the crypto project. However, too much hype does not imply growth.
Increase in Hype-to-Activity Ratio Does Not Imply Growth – Best Cryptocurrency to Invest In 2019 – Cryptocurrency News Today
Hype is crucial in the initial developmental phase of a digital currency. However, hype does not imply long-term growth. During the crypto winter last year, a lot of hyped projects vanished from the market. XRP has been doing a great job in maintaining its relevance in the crypto space. The hype around the project is not directly proportional to its growth. However, XRP has achieved quite a lot and it is going places.
The digital currency with the highest ratio is TokenPay, a whopping 911.1 tweets per $1 million in trading volume. The hype around the project is very high, it has a very low trading volume, and its GitHub activity is also very low.
XRP (XRP) Price Today – XRP / USD
At the time of writing, the price of XRP is $0.2656 after an increase of about two percent over the past twenty-four hours. The current market cap of the digital currency is $11.39 billion. The trading volume of the digital currency over the past day is $1.17 billion.