Social Media Monitoring

Social Media Monitoring

Social media plays a critical role in cryptocurrency trading, where trends and sentiment can drive market behavior. Waveform’s Social Media Monitoring feature allows agents to track relevant signals from platforms like Twitter and Telegram to inform trading strategies.

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Features of Social Media Monitoring

1. Real-Time Data Collection:

   • Waveform agents continuously monitor specified accounts, hashtags, and channels to capture real-time sentiment and discussions.

   • Integrates with Twitter APIs to analyze tweets, retweets, and mentions.

   • Scrapes Telegram groups for critical market discussions and signals.

2. Customizable Signal Sources:

   • Users can specify:

     • Influencers (e.g., @crypto_influencer).

     • Keywords (e.g., “Solana”, “#BTC”).

     • Telegram groups or channels.

3. Sentiment Analysis:

   • LLMs like GPT-4 analyze the collected data to determine:

     • Positive or negative market sentiment.

     • Emerging trends.

     • Potential market-moving events.

4. Trend Detection:

   • Identifies spikes in activity or sentiment around specific coins or topics, signaling potential trading opportunities.

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How to Use Social Media Monitoring

1. Configure Signal Sources:

   • Go to the "Social Signals" section in the agent setup form.

   • Add accounts, hashtags, or keywords you want the agent to monitor:

     {
       "twitter_sources": ["@crypto_influencer", "@trading_news"],
       "telegram_groups": ["crypto-signals", "solana-traders"]
     }

2. Enable Sentiment Analysis:

   • Turn on sentiment tracking in the agent’s dashboard.

   • Example: Focus on keywords associated with positive sentiment for "Solana."

3. View Signal Insights:

   • Check the "Signal Dashboard" to see:

     • Latest tweets or messages related to your configured sources.

     • Sentiment trends (positive, neutral, or negative).

     • Real-time alerts for major spikes.

4. Optimize Trading Based on Signals:

   • Adjust the agent’s trading thresholds based on social signal trends.

   • Example: Increase the trade volume when sentiment for a tracked coin is highly positive.

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Best Practices

• Monitor Influencers with Market Impact: Choose accounts or groups known for driving cryptocurrency sentiment.

• Focus on Trending Hashtags: Track hashtags like #Solana, #Altcoins, or #CryptoNews for market movements.

• Use Telegram for In-Depth Insights: Telegram groups often have detailed discussions and early signals for new coin launches.