Cryptocurrency press releases constitute a ‘parallel news market’ that can influence prices, study explains

The data that drives cryptocurrency markets increasingly comes from paid press releases rather than journalists.

An analytical study of 2,893 cryptocurrency press releases published between June and November 2025 showed that these distribution networks act as a parallel news market, able to shape sentiment and push prices temporarily, even before verification.

More than 60% of releases come from high-risk projects

I explained the study 62% of the problems came from high-risk projects (35.6%) or Completely fraudulent (26.9%), while the percentage of low-risk projects was 27%, and medium-risk projects were 10%.

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The approach of editorial coverage, where journalists assess credibility, is different from wire distribution, which publishes the client’s content with a very limited review. This helped misleading or exaggerated claims reach the public quickly, affecting asset prices.

Only 2% of the issues (58 in total) covered material events such as funding rounds or… Mergers Or studies. Updates related to products or features accounted for about 50%, and 24% were related to commerce andList of currencies on the platformsThe market is often flooded with repetitive content that is ignored by trusted newsrooms.

The analysis of the tone revealed that only 10% of the versions were neutral, while 54% were exaggerated, and 19% were clearly promotional.

In general, about 70% of the releases contain explicit marketing phrases, such as “revolutionary”, “changing the game” or “driving the future of Web3”.

Market influence and manipulation risks

Shared distribution practices contribute to amplifying these effects. Many platforms ensure publication in dozens of sites, including cryptocurrency media platforms and side news streams in public outlets. This allows projects to be tagged “as published”.

Small or vague disclaimers can cause amateur investors to consider promotional content to be independent reporting.

The impact of noisy content on Individual investor activities andAlgorithmic trading robotsleading to short-term price movements based on perceptions rather than fundamentals.

This phenomenon mirrors traditional pump-and-dump strategies in penny stocks, where press releases have historically created artificial demand before insiders sell.

The research here brings up an important point for investors: visibility is not the same as validation. Press releases, especially from high-risk or fraudulent projects, should be considered primarily as promotional material and secondarily as potential signals of market movements – with caution applied at every step.