Veröffentlicht von • A study by the Network Contagion Research Institute (NCRI) shows that Twitter bots are heavily influencing altcoins prices.
• The study found that tweets promoting FTX-listed crypto tokens were followed by a 50% spike in inauthentic activities.
• Former FTX boss Sam Bankman-fried is accused of misappropriating funds, including for costly marketing events.
Study Finds Twitter Bots Influencing Altcoins Prices
A recent study by the Network Contagion Research Institute (NCRI) concluded that Twitter has been used over the years by computer bots to amplify the value of different crypto assets. The report noted that FTX -listed crypto tokens were heavily amplified by the speculative bots on Twitter, leading to a 50 percent spike in inauthentic activities.
Elon Musk’s Involvement
Billionaire Elon Musk claims that Twitter was largely overcrowded with bots before he purchased the social media platform. He has since implemented measures to reduce bot dominance and make it the world’s largest financial ecosystem.
Misappropriation Allegations
Former FTX boss Sam Bankman-fried is accused of misappropriating funds, including for costly marketing events. The NCRI report noted that out of a total of 182,105 unique accounts tweeting about cryptocurrencies during this period, almost half showed signs of coordinating activity to influence coin prices artificially.
3 Million Tweets Analyzed
The figures in the report were derived from analyzing more than 3 million tweets posted between January 1, 2019, to January 27, 2023 relating to 18 altcoins. This suggests that inauthentic networks were successfully and deliberately deployed to influence changes in FTX coin prices.
Conclusion
The mainstream growth of the cryptocurrency market has come with its fair share of challenges such as market manipulation through bot price predictions and spamming on social media platforms like X platform (formerly known as Twitter). Such activities could lead to artificially inflated market values and can be detrimental to investors who rely on accurate pricing information when making decisions about their investments