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proxy
@proxystudio.eth
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
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0xLuo
@0xluo.eth
I once said that $DEGEN is the pulse of Farcaster, and that's not false, because in Feb. and Mar., the correlation between $DEGEN's price and Farcaster's total cast once exceeded 0.9. However, as Degen became known outside the Farcaster community and was regarded as a leading memecoin on a base chain, this correlation has declined. and the macro crypto market will, of course, affect all memecoins in the Farcaster ecosystem, including $DEGEN, making it difficult to distinguish which has a greater impact: the overall crypto market or the Farcaster ecosystem memecoins. https://warpcast.com/0xluo.eth/0x26a9f3c7
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Dan Romero
@dwr.eth
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
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Beninem
@beninem
Updated the query...you get odd data recently. Likes and especially recasts are exploding while total casts are low? Odd.
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