Spam and bots have irritated anybody who uses the internet for years, but this digital scourge has suddenly sparked a surge in cryptocurrency activity.
Spam in the cryptosphere has surged by 3,894 percent, according to crypto intelligence service LunarCrush. Since 2019, the company has been collecting crypto-specific social data, and it claims that spam is not just at an all-time high, but also “the fastest increasing measure on social media.”
LunarCrush CEO Joe Vezzani told Quantum Economics founder Matti Greenspan in his crypto newsletter:
- “For a Web2 platform like Twitter, there is a direct incentive to turn a blind eye to fake accounts because it increases the value of their platform.”
Tokenized Web3 platforms such as Aave’s Lens Protocol or Orbis differ in that they want to have as many genuine users as possible holding the asset rather than trying to extract value from the community, he added.
