The dependance between Telegram mentions and volume
Does Telegram hype have any influence on the price of cryptocurrencies? Let’s find out!
These are last week’s top-10 most mentioned coins on Telegram (except for Bitcoin) and their weekly volume change. A sharp growth of mentions leads to a comparable increase in traded volume.
It become even more obvious if we look at coins with low capitalization, such as HOT and NANO. It’s very rare to see the growth of coin mentions having no effect on the traded volume (the example of NEO)