Feb 9, 2021 07:48 UTC
Feb 9, 2021 at 07:48 UTC
Elon Musk has lacking BTC’s social sentimentality into novel highs on Twitter. Social media action for BTC is at an all-time high next a huge authorization from Tesla CEO, Elon Musk.
Talking to Cointelegraph, co-founder and CEO of crypto data breadwinner The TIE, Joshua Frank, renowned there have been 143,000 tweets over the previous 24 hours from ‘non-bot accounts.’
The novel record beats out the preceding high of 140K from January 3, 2021.
Important BTC tweet capacity: The Tie
On February 8, news that electric vehicle maker Tesla had extra BTC to its balance sheet directed prices and market sentiment to best highs. BTC prices hit an all-time high of $47,500 in initial Asian trading on February 9.
Frank defined the surge in social appointment as evidencing bullish sentiment amongst retail traders:
‘I consider that it is certainly clear that retail is here. We are seeing unconditionally massive surges across the board in twitter activity, trading activity, and price drive for altcoins which institutions are not touching. Today’s movement can unconditionally be attributed to Elon Musk, but BTC social activity has been on a tear all year.’
Musk’s tweet seems to have took crypto-Twitter’s care away from CME’s highly expected launch of Ether futures contracts on February 8, with Frank noting that Ether’s Twitter-volume had drooping by half after lately enjoying continued record highs:
‘ETH twitter action was crushing all-time highs recently but was not huge today, down about 50% vs. yesterday,’ he supposed.
Historic ETH tweet volume: The Tie
The run-up to the presentation of CME’s Ether futures took the thoughts of both institutional and retail traders alike, with ETH products on behalf of 80% of previous week’s institutional crypto inflows.
Both ETH and BTC’s prices are presently cooling after posting new best highs previous today. As of this writing, the joint crypto market capitalization is inactive at $1.4 trillion.