IOTA and Cardano Meetup Numbers Indicate “Surge in Interest”

IOTA and Cardano Meetup Numbers Indicate “Surge in Interest”

The correlation of Bitcoin’s price with its Google search volume has been the source of much commentary in the media. As the number of terms involving the string “Bitcoin” typed into Google multiplied one hundredfold over the course of 2017, its price went from just under $1,000 to just over $15,000 during the same period, peaking at $20,000 along the way.

In April, we ran a piece discussing a new tool, known as Solume, which takes the concept further by allowing anyone to analyse interest in a cryptocurrency or ICO token by tracking discussions on forums such as Bitcointalk and Twitter. The tool even tries to determine the ratio of positive to negative sentiment expressed on those forums.

Gauging Organic Interest

It now seems, however, that some are taking the concept one stage further. By tracking the number of social gatherings over time related to a cryptocurrency organised through the Meetup platform, one analyst now believes he has developed a much more reliable method for gauging increased interest in a cryptocurrency and, by implication, its potential for future price increases. 

“Tools such as Telegram and Solume have value in allowing you to gauge interest but they are open to manipulation – airdrops in the case of Telegram, for example, distort measurements of true, organic interest in an ICO,” Harkim tells ICOExaminer. 

Harkim runs a daily web-scrape of the Meetup platform to determine the number of meetings – and the number attending those meetings – to get an idea of how interest in a specific list of cryptocurrencies have been evolving over time. 

“IOTA and Cardano especially have shown a surge in interest over the last six months – the number of people out there taking a specific interest in their technologies is growing. That appears a healthy sign for potential future mass adoption.”

With interest groups on the Meetup platform sprouting up from Toronto to Munich in recent times, the cryptocurrency designed for the ‘future machine economy” appears to be standing in good stead.

In the case of Cardano, referred to by some as the Japanese Ethereum, there are groups popping up in Nigeria – although that may be the reflection of a strong African strategy being adopted by the Cardano team itself. 

It is far from scientific, however, but the approach does seem to offer value as part of a larger set of tools for tracking the prospects of mass adoption – the Holy Grail of today’s HODL’ing generation.