TechFlow news, October 5 — Ki Young Ju, founder of CryptoQuant, shared insights on social media regarding the growing "religious" influence of social platforms on financial markets. Using Tesla, Bitcoin, and various crypto communities as examples, he illustrated this phenomenon.
Ki Young Ju emphasized that "prophets" play a crucial role in driving asset price increases. These "prophets" continuously expand narratives about the future, creating a perceived state of "enlightenment," which in turn fosters blindly faithful communities built on shared beliefs. He stressed that investors must evaluate whether influential "prophets" exist on social media when assessing public companies or token projects, along with measuring the strength of their followers' conviction.
He also noted that many companies are attempting to build blindly loyal "religious communities" on social media. However, successful cases are rare, and some projects even hire key opinion leaders (KOLs) to fabricate artificial faith. Ki Young Ju predicted that social media's impact on financial markets will continue to grow stronger, and understanding how religions operate will be essential to grasping future trends in finance.
