What percentage of cryptocurrency investors are women? Take a guess. You might think it is not very much. After all, the crypto space is pretty damn nerdy and outside of the public sphere almost by definition as an alternative form of currency and organization. Well, a report by Grayscale suggests that around 43% of interested cryptocurrency investors are female. This is probably because even though learning the ins and outs of yield farming with Compound might not be the average woman’s pastime, the desire to make money is pretty much universal regardless of your gender.
Here at CryptoMood, we specialize in keeping track of what really makes crypto markets move. We recognize that at the end of the day, it is how investors feel that determines whether the price of an asset will go up or down. We also know that how investors feel is driven by the news about the assets they are holding and trading. That’s why we developed two new indicators for cryptocurrency traders that keeps track of people’s opinions in the news and on social media about over 3000 cryptocurrencies by using an AI that scans over 50 000 sources.
In preparation for our recent online discussion and giveaway, our data analysts crunched some last-minute numbers about if and how women are influencing the price of cryptocurrency, specifically Bitcoin. We did this by examining the tweets from the last 30 days from some of the most influential women in the crypto sphere. These were: Alena Vranova, the former CEO of Satoshi Labs, Meltem Demirors, CSO at CoinShares, Kathleen Breitman, co-founder of Tezos, Carolyn Reckhow, former Director of Global Operations at ConsenSys, Elizabeth Stark, CEO of Lightning Labs, Ani Itireleng, founder at Satoshi Centre, Joyce Kim, co-founder of Stellar, and Jinglan Wang, a blockchain developer.
Our AI tracked their tweets from May 3rd to July 5th. As you can see in this delicious pie chart, the lion’s share of influential tweets came from Meltem, Alena, Kathleen, and Carolyn. Why does this matter? Well, many of you will know that the enterprises many of these women co-founded or played significant roles in are quite literally some of the most important in the cryptocurrency space. While they may not be quite as impactful as say, Vitalik Buterin or Justin Sun, what they say should nonetheless have SOME influence on the price of a cryptocurrency such as Bitcoin… right?
Well, lets just say the correlations we found are quite interesting. Whenever the sentiment of tweets coming from these female influencers was positive, the Bitcoin price remained relatively flat. However, as soon as the sentiment of those tweets went negative, the Bitcoin price declined in tandem. This is strange and we believe it may just be the lack of sample size and/or the relatively short time frame within which we conducted the data analysis. Normally our studies take data spanning back months, sometimes even more than a year. Finding this result has piqued our curiosity, so rest assured you’ll be getting a follow up to this preliminary study sometime in the future.