作者
Junliang Luo, Yongzheng Jia, Xue Liu
发表日期
2023/9/6
图书
Proceedings of the 2023 ACM Conference on Information Technology for Social Good
页码范围
410-418
简介
The Non-Fungible Token (NFT) market is developing in tandem with the growth of the cryptocurrency market and the advancement of blockchain technologies. This has fostered a swiftly prospering NFT market, which subsequently entered a period of decline. Nevertheless, the overall rise procedure of the NFT market has not been well understood. We consider that evolving social media communities, accompanying market growth, offer valuable insights into market behaviours. Our research primarily focused on the NFT Twitter communities, conducting two experiments to gauge their impact on NFT price movements. Using a Granger causality test on tweet counts and NFT prices, we found that for most of the top 19 original projects, tweet volume positively influenced the price, or vice versa. This trend was seldom observed for copycat projects. To assess price movement predictability, we experimented with …
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