eToro releases report analyzing Top 100 Youtube influencers, Michael Saylor and Elon Musk

eToro has released a report in partnership with The TIE, a digital assets data provider, which explores the world of internet influencers amid the rise of social trading.

The True Value of Influence aims to arm investors with critical knowledge to help long-term decision-making:

Firstly, by looking at The Bottom Line Influence of YouTube Influencers, with data from an analysis of the top 100 crypto YouTubers to show their overall contribution to market sentiment.
Secondly, by following the tweets of Elon Musk and Michael Saylor throughout the second quarter of 2021 to demonstrate the impact both had on the sentiment and price of two prominent crypto assets, bitcoin and dogecoin.

Guy Hirsch, US Managing Director at eToro, said: “Investors today are facing information overload. Crypto is a new asset class, so besides understanding what function and role the new assets play, they must also make sense of the overwhelming volume of information available and understand which sources matter most and why.

“This was especially apparent over the last quarter when the crypto markets experienced a high level of volatility and we saw the power of retail investors in the market. So we worked with our partners at The TIE to create a helpful tool for crypto asset investors that looks below the surface of two critical themes.”

The report includes an intro section that shows investors how a global research organization analyzes sentiment to understand what role it plays in crypto asset pricing.

Then, it moves on to a deep analysis of the Top 100 Youtube influencers that help investors understand how influential individuals impact the market and their role as leading and lagging indicators.

The final section tells the story of the first half of 2021 through the tweets of 2 highly influential individuals – Elon Musk and Michael Saylor – and looks at how they impacted market price and sentiment.

Joshua Frank, Chief Executive Officer of The TIE, said: “Q2 2021 was defined by extreme highs and lows, regular market swings of +/-10%, and overall volatility. Behind the scenes volumes of data look at the role key influencers played in driving volatility, and why it’s important to consider multiple sources of information before making an investment.”

eToro reported more than 275 percent growth in funded accounts in 2020, and is set to go public in the United States at a whopping $10.4 billion valuation via SPAC deal. The company reported $605 million in gross revenue last year.

As part of its global expansion, the broker appointed Dan Moczulski as Regional Manager and Head of Business Development for the UK and Ireland.