July 21, 2024

eToro offers investing in cryptocurrencies based on sentiment on Twitter

Investment platform eToro has launched a trading tool for retail cryptocurrency traders. Hetracks moods on Twitter.

The solution was implemented jointly with The TIE.TheTIE-LongOnly CopyPortfolio tool tracks 850 million tweets per day, «quantifying the positive and negative tone of conversations». It then builds an optimal cryptocurrency portfolio, rebalancing it once a month.

The minimum investment threshold is $ 2,000. At the time of writing, the portfolio is distributed as follows: 47.43% in DASH, 23.35% in EOS, 22.07% in XRP, 5.12% in MIOTA and 2.03% in ETC.

eToro claims that since October 2017, the return on this strategy for institutional investors has been 281%.

Recall that earlier the company launched a platform for cryptocurrency trading in the United States and a regulated bitcoin exchange.