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Altcoin Roundup: Data shows social metrics surge ahead of DeFi and NFT price rallies

CryptocurrencyJul 18, 2021 09:00PM ET
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Altcoin Roundup: Data shows social metrics surge ahead of DeFi and NFT price rallies

A common saying in the investing world is “The trend is your friend,” a phrase that points to the idea that the majority of the time, sticking with the prevailing market trend will produce positive results.

Some of the common metrics used to identify market trends include: technical analysis, which involves studying price charts to spot opportunities; fundamental analysis, which involves looking at a project’s underlying economic and technological factors; and social media metrics, which help an investor listen to the pulse of what the wider public is focused on.

Bitcoin interest over time. Source: Google (NASDAQ:GOOGL) Trends
BTC/USDT 1-day chart. Source: TradingView
Total market capitalization of the top 100 DeFi tokens. Source: CoinGecko
DeFi search interest over time. Source: Google Trends
THETA/USDT vs. AXS/USDT vs. EJN/USDT vs. CHZ/USDT vs. MANA/USDT 1-day chart. Source: TradingView
NFT search interest over time. Source: Google Trends
Search interest in DeFi (blue) vs. search interest in NFT (red). Source: Google Trends
MATIC price vs. tweet volume. Source: TheTIE
Polygon search interest over time. Source: Google Trends

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Altcoin Roundup: Data shows social metrics surge ahead of DeFi and NFT price rallies
 

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