By analyzing key metrics on social media, LunarCrush was able to accurately forecast a surge in social activity that could lead to a bank run.
LOS ANGELES, March 12, 2023 /PRNewswire-PRWeb/ -- LunarCrush, Inc. the leading financial social media analytics platform showed signs of an impending bank run at Silicon Valley Bank, one of the largest banks in the tech hub of California. By analyzing key metrics on social media, LunarCrush was able to accurately forecast a surge in social activity that could lead to a bank run.
According to LunarCrush analytics, in the last week, starting on Wednesday the bank's social engagements skyrocketed by an astounding 78,102.50%, while social contributors and social engagement both increased by 50,950% and 252,194.8%, respectively. These metrics provided clear indications of a significant increase in customer activity on social media platforms, indicating that Silicon Valley Bank's customers were becoming increasingly concerned about the bank's financial health.
LunarCrush's prediction was proven to be spot-on when Silicon Valley Bank experienced a sudden surge in customer activity, with a large number of customers withdrawing their deposits from the bank. This situation proved disastrous for the bank, leading to a widespread panic and a potential financial collapse.
Thanks to the accuracy of LunarCrush predictions, users leveraging the power of social media analytics have once again demonstrated its value in predicting significant changes in the financial industry.
About LunarCrush, Inc.:
LunarCrush is a leading social media analytics platform that provides valuable insights and predictions to businesses and organizations across various industries. By analyzing key metrics on social media platforms, LunarCrush enables companies to make informed decisions and stay ahead of the competition. With its advanced analytics tools and cutting-edge technology, LunarCrush is the go-to solution for businesses looking to harness the power of social media data.
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Media Contact
Evan Kennedy, LunarCrush, 8187061977, [email protected]
SOURCE LunarCrush
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