proxy studio

dashboard: cast data & token price (degen)
creator: @0xguss3 
tags: forensics, onchain, social
notes: how generalized is this correlation, and how predictive can it be? degen a unique case with lots of social noise that has specific utility within related to token distribution. Farcaster cast trends also likely correlated with the broader crypto market (bull = uptick in user, bear = downtrend)

Dawe, Kudus Regency, Central Java, Indonesia

dashboard: cast data & token price (degen)
creator: @0xguss3 
tags: forensics, onchain, social
notes: how generalized is this correlation, and how predictive can it be? degen a unique case with lots of social noise that has specific utility within related to token distribution. Farcaster cast trends also likely correlated with the broader crypto market (bull = uptick in user, bear = downtrend) 
https://dune.com/gussan_0214/tokenandsocialonfarcaster

founder /openventures | /proxyswap | tokenbot @clanker

A more interesting analysis is take the "1000 best accounts" (your definition) and see how correlated it is.

Aggregate protocol data in a permissionless protocol is low signal

Data

The diagram compares the daily average price of $DEGEN with the total number of casts on Farcaster. It appears that, in fact, $DEGEN is the pulse of Farcaster.

"Best?" Are we talking about activity or influence? It's very tricky.

If you missed it, the correlation between daily casts and DEGEN price is telling. R = 0.82

"Best?" Are we talking about activity or influence? It's very tricky.

If you missed it, the correlation between daily casts and DEGEN price is telling. R = 0.82

https://warpcast.com/0xluo.eth/0x26a9f3c7

Best = pick the 1000 most interesting accounts from your pov

Why does this matter? Genuinely curious. The protocol is being used; social activity is being generated

But more than that, activity from real users on the protocol is closely correlated with the price of DEGEN