Edge Letter #3: Tracking Narratives with Elfa AI: My Method
What Elfa AI Actually Is
Elfa is crypto's first real-time social listening platform. It continuously monitors Twitter and Telegram, using AI to filter out noise and surface what actually matters.
The platform ingests massive volumes of conversation across these platforms, identifies which exact tokens people are talking about, extracts key insights, and transforms them into real-time actionable data. Instead of manually scrolling through hundreds of posts, Elfa shows you which tokens are gaining popularity, provides context for price movements, and helps you verify if influencers are worth listening to.
Their data comes from:
X (Twitter)
Telegram groups
DEX and CEX data
Multiple trading-related sources
Currently tracking over 3 million accounts internally, though only about 30,000 are exposed on the app.
The Features That Actually Matter
Token Leaderboard - Your Market Pulse
When you open Elfa, the first thing you see is the token leaderboard. This shows you what's trending based on "mindshare", basically what percentage of all crypto conversations are about each token.
What you can do:
Toggle between "Top Mindshare" (most talked about) and "Top Change" (biggest movers)
Filter by category: AI agents, Memes, DeFi, or even Stocks
See sentiment overlaid with price action
For example, if ETH has 10% mindshare on the 1H leaderboard, it means 10% of all token mentions in the past hour were about ETH. Simple, clean, no black box calculations.
When you click on any token, you get:
Live price chart with sentiment overlay
Real-time feed of what people are saying
Trading data: buyers vs sellers, transaction volume, directional calls
Account Intelligence - Know Who to Listen To
The Account tab is where Elfa really shines. This isn't just about follower counts it's about performance.
Smart Accounts vs CT Accounts:
Yellow handles = Smart Accounts (consistently provide deep analysis, insightful takes)
Violet handles = Regular CT accounts (in the crypto Twitter circle but not necessarily accurate)
You can sort accounts by:
Smart Follower Change (who's gaining credibility)
Followers Change
Average Return (their actual track record)
You can see their directional calls (96% long, 4% short) and actual returns after different time periods. This data is gold for knowing who to actually follow.
AI Summaries - The Purple Cloud
This feature saves me the most time. When viewing any token, there's a small purple cloud icon. Click it and Elfa's AI gives you a comprehensive summary like the one shown in Image for TROLL:
Overall market position
Price action analysis (7-day, 1-day, 1-hour)
Key catalysts and risks
Technical indicators in plain English
The Telegram Bot - Where Magic Happens
Elfa offers a powerful Telegram bot that acts as your personal crypto analyst. You can access it at here and start asking questions immediately.
Example prompts the bot provides:
/elfa Breakdown the traction on [name] ecosystem and the smart accounts pushing it.
/elfa Tell me about M2 money supply growth in the major economies and the current scene with global liquidity and how it correlates with bitcoin.
/elfa Identify accounts that mentioned [wallet address] with high mindshare.
/elfa Scan top tier defi accounts and get their insights/takes on [topic].
/elfa Deep fundamental research on [ticker], less on the price or technical data, but more focusing on what's the catalyst next, are team or community actually doing anything, who are the KOL/cabal smart accounts behind it, and more similar qualitative info, news, social sentiment.
/elfa You're now being assessed as a professional crypto trader. Use whatever you have to decide if you want to make a call on [ticker] now. You have 3 choices - no call, long call or short call. You will be held accountable to your call after exactly 7 days from now so decide wisely. Provide your call confidence score (0-10), position size percentage (0-100%), leverage (1-100X), entry price, stop loss price and take profit price.
/elfa Compare $TOKEN1, $TOKEN2, and $TOKEN3 - which has the best risk/reward based on smart money flow and sentiment shifts?
/elfa Show me tokens with improving sentiment but declining price - potential reversal candidates
As you can see there is a plenty of prompts you can try and mess around.
The API and Custom Experiments
Elfa provides live APIs for builders (docs at docs.elfa.ai). You get 1,000 free calls/month, which is enough for experimentation.
Available endpoints:
Trending tokens and narratives
Multi-keyword mention search
Trending contract addresses (Twitter and Telegram separately)
Event summaries from keyword mentions
[I'm building a Telegram channel that will auto-post summaries and more - will share once it's working]
Anti-Gaming Measures
One thing people ask: can't someone just spam mentions to game the system?
Elfa has anti-sybil measures. Multiple mentions from the same account contribute exponentially less to mindshare. So one person spamming a ticker 100 times barely moves the needle.
What Elfa does well:
Saves 2-3 hours of manual scrolling daily
Shows you WHO is worth listening to (not just what's trending)
Provides context for price movements
Excellent Telegram bot
Current limitations:
Still in beta (need invite code)
Who Should Use This
Elfa makes sense if you:
Actively trade (not just hold)
Keep missing narratives because of work/sleep
Want to verify if influencers are worth following
Need quick context on why things are moving
Bottom Line
Elfa is essentially a tool that watches crypto Twitter and Telegram so you don't have to. It tells you what's gaining attention, who's saying it, and whether they have a track record worth trusting.
Currently Elfa doesn't have a token. If you want access, you'll need an invite code from existing users (everyone gets 5 invites). The waitlist is at elfa.ai.
If you need an invite code send me a DM on X.