The Hidden Influence of Encryption on Twitter: How a Few Accounts Dominate Public Opinion

The cryptocurrency Twitter community prides itself on being the most decentralized information channel in the financial sector, boasting "permissionless discussions." However, in reality, about 100 accounts dominate the views of millions regarding cryptocurrency, project attention, and capital flow. This seemingly grassroots community is actually a highly centralized influence economy.

Core Circle of Market Manipulation

Encryption Twitter is not a widely used dialogue platform, but rather consists of a series of concentric circles, with influence radiating outward from the center, presenting an uneven distribution:

1. Level One: Decision Makers (5-10 accounts) These accounts not only have a large number of fans but also exhibit significant network effects. A single tweet from them can trigger hundreds of account retweets in a short period. Their casual mentions can drive up token prices, while criticism can destroy projects, and endorsements can instantly grant legitimacy to projects.

2. Second layer: Amplifier (20-30 accounts) These accounts convert first-layer information into trending topics. They ensure that information reaches specific groups, such as venture capital partners, prominent developers, and ecosystem leaders, through methods such as reposting and commenting.

3. Layer Three: Echo Chamber (70-75 accounts) Individuals with moderate influence who reiterate the viewpoints of the first two layers to their audience. While they rarely present new insights, they play a key role in expanding the narrative, making the viewpoints of the first layer appear to be community consensus.

4. Other users: audience The main focus is to digest and respond to the content deemed worth discussing by the top 100 influencers.

Narrative Communication Mechanism

This process is not random, but predictable:

1. Sowing: The first layer account shares insights or discoveries, which may be genuine insights or strategic promotions.

2. Amplification: The second layer account forwards and adds interpretations in a short period to create the illusion of independent discovery.

3. Verification: The third-layer account agrees, provides supporting evidence, and creates an atmosphere of "general consensus."

4. Cascading Effect: Ordinary users share fragmented content, spreading core information.

5. Institutionalization: Encryption media writes articles, citing "encryption Twitter sentiment", making this narrative a recognized fact.

The entire cycle usually completes within 24 to 48 hours. When most people notice a "hot" topic, the influence economy has already determined its direction.

The Economics of Influence

The influence of encrypted Twitter is not only related to reputation but also involves complex business models:

Direct cashing out:

• Disguised as a casually discovered paid promotion
• Obtain the "consultant" position in the mentioned project
• Conference Speaking Fee
• Newsletters sponsorship and premium content

Indirect Value Acquisition:

• Get project information and tokens in advance
• Gain advantageous allocation in financing rounds
• Build connections with top venture capitalists and founders
• Gain board positions and equity opportunities

Portfolio pull: Many top accounts are early investors or advisors in encryption projects.

Systemic Bias

The influence of encrypted Twitter has concentrated various biases:

• Regional Bias: A Global Technology Narrative Centered on the United States
• Network bias: Existing connected projects receive excessive attention.
• Wealth Bias: Existing holders of encryption wealth gain more opportunities
• Language bias: Non-English projects and communities are undervalued
• Professional bias: Financial engineering receives more attention than technological innovation

Content Selection Preference

Analyzing encryption Twitter trends, one can find a clear pattern of content promotion:

Vigorously promote:

• New L1 blockchain (especially EVM-compatible)
• DeFi protocol with an innovative token mechanism
• Projects that claim to be "infrastructure" or "scalable"
• Tools for developers

Systematic neglect:

• Projects without token or venture capital support
• Technological innovation that is not financially speculative
• Developers focused on actual delivery rather than marketing
• International projects with a non-American background

This selective attention creates a feedback loop that leads cryptocurrency development to focus more on attracting Twitter users' attention rather than driving substantive technological advancements.

The Illusion of Decentralized Discourse

Encryption Twitter claims to be completely different from traditional media, but its power structure is surprisingly similar:

Traditional media: A few editors decide on the content to report, and journalists amplify these decisions, while the audience digests the filtered information.

Encryption Twitter: A few top accounts decide to follow the project, while second and third tier accounts amplify these decisions, with the audience digesting the filtered information.

The main difference is that the influence economy of encryption Twitter is not transparent enough in terms of power structure and financial incentives.

Profound Impact

The actual consequences of the concentration of influence in encryption Twitter:

• Capital allocation: Venture capital firms focus on Twitter sentiment for investment decisions.
• Developer Direction: Project selection is influenced by social media popularity.
• Retail behavior: Millions make financial decisions based on the narratives of a few accounts.
• Media reports: Encryption journalists will use Twitter sentiment as an important indicator.

Coping Strategy

Suggestions for ecosystem participants:

Builders: Recognizing that technological excellence but lacking narrative can lead to being overlooked. Either learn the game of influence or seek allies who are willing to help.

Investors: Twitter sentiment is often a lagging indicator of top account opinions, rather than true market emotions. By the time something is "hot", the best opportunity is usually already missed.

Users: Follow accounts that consistently share diverse viewpoints and in-depth technical analysis, rather than merely echoing mainstream opinions or promoting paid content.

The entire ecosystem: Recognizing that the concentration of influence on Twitter may undermine efforts towards decentralization.

Conclusion

The operation of encryption Twitter is not a problem, but is running exactly as designed. The key is to recognize that it does not represent an organic, decentralized discussion, but rather a complex system of influence economics, with centralized power and undisclosed economic incentives. Understanding this is crucial for making informed decisions in the cryptocurrency space.