Solana Sentiment Recently Reached Its Highest Since 2021, Says The Tie

3 February 2024

in Solano

Reading Time: 2 mins read

two years. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

One measure of solana sentiment recently attained its loftiest value since late 2021, when the cryptocurrency’s price reached its pinnacle, according to The Tie.

The 30-day average tweet volume, calculated using the number of mentions that appear on X (formerly Twitter) in a day, climbed to roughly 7,400 in mid-January, figures supplied by analytics provider The Tie reveal.

This represented the highest value for this particular indicator since approximately halfway through December 2021.

The chart below depicts these fluctuations in sentiment.

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Solana’s 30-day average tweet volume experienced a meteoric rise in the space of a few months, increasing more than 700% from a value of less than 900 roughly halfway through October to right around 7,400 in January.

During this time, which spanned close to 90 days, the aforementioned tweet volume seems to have functioned as a lagging indicator of sorts.

More specifically, the price of solana (SOL) reached its multiyear high above $120.00 on Christmas day, additional figures from The Tie reveal.

The chart below depicts changes in solana’s sentiment and price:

Solana 30-day average tweet volume and price

The Tie

It is worth noting that solana’s 30-day average tweet volume appears to have functioned as a lagging indicator at many points, most strikingly when the digital asset reached an all-time high in late 2021.

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether, EOS and SOL.

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I am a financial writer and editor with strong knowledge of asset markets and investing concepts. I have worked for financial institutions including State Street, Moody’s Analytics and Citizens Commercial Banking. An author of more than 1,000 publications, my work has appeared in mediums such as Fortune, Business Insider, Washington Post, CoinDesk and Investopedia. I created all the industrial finance training for a company with more than 300 people. I have spoken at industry events across the world and delivered speeches on financial literacy for Mensa and Boston Rotaract. I currently hold bitcoin, bitcoin cash, litecoin, ether, EOS and SOL.