eToro and Crypto Analytics Platform, The TIE, To Track Sentiment On Twitter
eToro, the prominent social investment platform, has announced a partnership with The Tie, a company focused on analytics and finance management. With this new partnership, the company will track the sentiment of investors on Twitter and determine what they are thinking about cryptos.
The official announcement came out today. The new project will be called TheTIE-LongOnlyCopyPortfolio and it will analyze over 850 million tweets every day by using machine learning techniques and natural language processing.
According to the reports, the program will read social media messages and scan each tweet to understand which ones are related to which crypto and how relevant these messages are. Spam and bots will be discarded and the sentiment from each token will be measured. This way, it will be possible to have a fair idea of whether the sentiment is positive or negative.
After the research, the program is set to assign a score for each token based on the general sentiment about it. Cryptos with higher scores mean that the confidence in them is very high.
The CEO of The Tie, Joshua Frank, affirmed that the customers only need to click on a single button before they can use the trading strategy. Because of this, the solution is seen as an easy way for investors to upgrade their trading without necessarily having too much effort.
This kind of tool, which is only powered by AI and is “human-free” is getting space in the market now. Nasdaq, for instance, also announced today that it would launch the CIX100 platform, which will analyze data from the top 100 cryptos.