Senator Cynthia Lummis (R-WY) has given a specific date for when her long-awaited crypto regulator bill will be unveiled. The legislation will help to sort cryptocurrencies under appropriate regulatory labels and federal jurisdictions. According to a tweet from the senator on Friday, the final version of her bill will be released on Tuesday, June 7th. Lummis has spent months working on the bill alongside Senator Kirsten Gillibrand (D-NY), announcing it as early December 2021. The bill will reportedly provide sweeping…
LunarCRUSH operates as a social media analytics and aggregated research tool. The platform enables users to gauge previously tricky metrics such as public sentiment towards a project. The system simplifies the process through the introduction of a proprietary scoring system and more.
LunarCRUSH continues to see growing popularity in the sector. As such, the network has expanded its efforts. Today, LunarCRUSH monitors over 30,000 links collected daily. These links span over 200 million social media posts and across +2,000 supported cryptocurrencies.
How Does LunarCRUSH Work?
There are a variety of different problems that LunarCRUSH users can avoid. For one, they save countless hours that could have gone on combing social media networks searching for mentions. The network’s unique monitoring capabilities allow users to measure the impact of social media on a particular cryptocurrency.
Have you ever scrolled through your timeline and seen a mention of a new crypto project? The rise of DeFi (decentralized finance) and the NFT (non-fungible token) markets have flooded the market with new and exciting projects. Until recently, there was no way to tell if this social media hype was network-wide or simply the result of an echo chamber.
Avoid the Echo-Chamber
A social media echo chamber is a term that describes when a user receives only information that fits their narrative. This situation occurs due to the way social media works. If the people you follow share the same views, an echo chamber scenario can happen very quickly. The problem with an echo chamber is that it is impossible to gain an accurate market overview of a project because all the information you receive is based on your personal network.
In the past, projects such as Bitconnect have organized very active and targeted social media campaigns. The company went to great extents to portray a positive picture via its significant social media presence. Sadly, the entire promotion was a ruse as Bitconnect turned out to be nothing more than a glorified Ponzi scheme which led many investors to lose their bags in the hype.
LunarCRUSH provides a solution to these problems. To accomplish this task, LunarCRUSH employs advanced crypto-specific machine learning algorithms. This way, it gathers information, which it organizes depending on its importance and popularity. These scores then feed more extensive metrics such as the platform’s Galaxy Score. This approach makes it easier to gauge if users are overall bullish or bearish on a coin.
The advanced ranking and machine learning integrated into the network helps investors distinguish accurate information from fake or spam posts. Social media is always packed with inaccurate information. Sometimes this info is just a simple mistake, and other times it’s part of a more extensive miss-information campaign. LunarCRUSH users can quickly tell the difference between real and fake crypto news.
The Benefits of Using LunarCRUSH to Monitor Crypto Projects
LunarCRUSH provides in-depth social media data and crypto exchange prices to the market. The network is free to use, and developers can even build on top of its infrastructure. In this way, LunarCRUSH provides exchanges, hedge funds, and media sites direct access to real-time data provided by the network.
The LUNARSTREAM API enables Dapps to access LunarCRUSH’s real-time data and improve the user experience. You can also integrate this valuable information into your website using the widgets and charts features. The network’s API uses tried and tested technology to streamline the integration process.
How Does LunarCRUSH Work
LunarCRUSH leverages an advanced artificial intelligence machine learning mechanism to sort through the endless streams of information found on the top social media channels. Using the dashboard, users can also track holdings, markets, and specific coin details. The system evaluates Twitter activity, Reddit, link popularity, news activity, and Google search volume to determine a coin’s score.
The Galaxy Score is part of the network’s unique ranking protocol. This score is based on moving averages and market value. It also combines community metrics gathered around the web and other performance-related data, including the correlation rank and social impact scores, as part of the ranking process.
Social Impact Score
The social impact score is a metric that measures the awareness a project possesses. This score is based on the volume of mentions and the number of interactions a project has across the top social media boards. The more active a social media community is about a project, the higher the chances that the token’s value will increase.
The Correlation Rank is a score that compares social data to the price and trading volume. This helps you determine if the mentions are due to user support or a calculated campaign to boost online comments. Notably, this score and the social impact score make up smaller components of a project’s Galaxy Score.
Another way that users gain valuable insight into a project is the Altrank. This score combines an altcoin’s price performance relative to Bitcoin and social indicators. This ranking can be a helpful tool when determining what projects are up and coming in the market. It can also help investors to spot new trends.
LunarCRUSH users can see more than just project details. The platform also provides a lot of data on influencers. Specifically, the system ranks influencers based on their engagements level, followers, and post frequency. This option is helpful to both investors and new projects seeking to use their marketing dollars effectively.
LunarCRUSH – A Vital Tool for Any Investor
Given the overall influence that social media has on the investment world today, it’s good to see that platforms such as LunarCRUSH exist. The network enables regular users to finally gain a market overview that was previously unavailable. Additionally, the platform allows developers to effortlessly access this information in an accessible manner.
LunarCRUSH helps the entire blockchain community by improving accuracy and providing responsive information for free.