The unfolding FTX crisis has made social engagement, social mentions, and social contributions reach historic highs in the crypto market, according to social intelligence company LunarCrush.
Per the report:
“The million people speaking about crypto resulted in 2.4 million total crypto mentions (avg 1.8 million) and 6.9 billion engagements (avg 4.6 billion) across social platforms. This increase in conversation correlates with volatile price action across a spectrum of cryptocurrencies.”
The liquidity crunch rocking FTX, one of the leading crypto exchanges, has triggered shockwaves in the market. For instance, the crypto market cap slipped below $900 billion for the first time since January 2021 as news about FTX troubles made airwaves, Blockchain.News reported.
The high social engagement illustrates that the FTX saga has got people talking amid wild volatility activity across nearly the entire crypto market, according…
