In a research paper titled “Emoji Driven Crypto Assets Market Reactions,” a team of international researchers has shed light on the significant role played by emojis in influencing cryptocurrency markets. Led by Xiaorui Zuo from Fudan University in China, Yao-Tsung Chen from National Yang Ming Chiao Tung University in Taiwan, and Wolfgang Karl Härdle from Humboldt University in Germany, the study explores the correlation between emoji sentiment and key market indicators, such as BTC price and the VCRIX index.
