How Are Twitter Activities Related to Top Cryptocurrencies' Performance? Evidence from Social Media Network and Sentiment Analysis

摘要

Cryptocurrencies have embraced Twitter as a major channel of communication. Employing social network analysis and sentiment analysis, this study investigates the Twitter-mediated communication behaviors among cryptocurrencies. This study determines whether a significant association exists between cryptocurrencies' Twitter networks and their credit scores. Data were drawn from the Twitter pages of several top cryptocurrencies. The results indicate that replya??mention networks had the densest structure, that the followinga??follower network structure was correlated with the replya??mention structure, and that the replya??mention and coa??tweet networks were positively correlated. The results also indicate that cryptocurrencies' active networking strategies affected their credit scores and more importantly, that cryptocurrencies frequently linked with fellow currencies tended to have high credit scores.