Emotional elements like hype and fear play significant roles in driving crypto prices.
Pavel Durov’s Arrest caused a price dip in the crypto market.
Narratives around litigations by the SEC and Whale actions contribute to market sentiment
Read also: Crypto Market Jitters as Pavel Durov’s Release Odds Dwindle
A new Santiment analysis has revealed how emotions like hype and fear significantly influence crypto prices. A researcher’s report on the platform examined the impact of several recent high-profile events that brought in discussions within the crypto community, ultimately leading to market actions and price swings.
The Santiment researcher focused on several narratives driving these discussions and impacting crypto prices: the alleged link between crypto whales and the CAT memecoin, institutional interest in TON, and the arrest of Telegram founder Pavel Durov. These events have cumulatively engineered social narratives, following discussions among millions of crypto users, generating hypes and FUDs at various intervals.
Read also: OpenSea Faces SEC Scrutiny Over NFT Classification
One example cited was Durov’s arrest, which caused concern due…
The post How Social Narratives Drive Crypto Prices, According to Santiment appeared first on Coin Edition.
