Home NewsAltcoin News

Follow us on Twitter or join our Telegram

Crypto Market Sentiment at the Verge of Positive Zone; Stellar Takes Top

Crypto Market Sentiment at the Verge of Positive Zone; Stellar Takes Top 101
Source: iStock/Nikada

On this last Monday and last day of November, we find the combined moving 7-day average crypto market sentiment score (sentscore) for the top 9 coins by market capitalization standing at 5.98 - and even though it's just slightly higher than last week's 5.92, it's now just below the positive zone limit, as seen in the data recorded by the crypto market sentiment analysis service Omenics.

This week yet again the list doesn't include bitcoin cash (BCH) which saw another hard fork two weeks ago.

From the nine observed, five coins are in the positive zone. Last week's positive-zoned coins - bitcoin (BTC), ethereum (ETH), and XRP - are joined by stellar (XLM) and cardano (ADA). The latter two entered the zone with the first and the third highest increases on the list, respectively. Stellar's sentscore went up 7.4% and cardano's 5.1%.

Between them is tether (USDT) with 6.2% - the coin which was on the losing end for the last two weeks, seeing the highest drop among its peers a week ago. One more green coin this week is binance coin (BNB), with a rise of 2.2%.

That said, five coins have also seen their sentscores drop over the course of the past week, with chainlink (LINK) leading the list by falling 7.3%. This coin has continued its drop for the second week in a row, having been one of the two red coins last week, along with tether. LINK is followed by a last week's winner, litecoin (LTC), which recorded the second-largest sentscore decrease - a fall that pushed it out of the positive zone.

The other red coins - these being the top three cryptos by market capitalization and sentscore: BTC, ETH, and XRP, respectively - have seen score decreases of 1.7% and less.

Sentiment change among the top 10 coins*:
Interpreting the sentscore’s scale:
- 0 to 2.5: very negative
- 2 to 3.9: somewhat negative zone
- 4 to 5.9: neutral zone
- 6 to 7.49: somewhat positive zone
- 7.5 to 10: very positive

Crypto Market Sentiment at the Verge of Positive Zone; Stellar Takes Top 102
Source: Omenics, 12:45 PM UTC

Turning our attention to the change these same nine coins have seen but in the last 24 hours, we find greener fields, so to say. The individual sentscores of all coins, except stellar's, are up between 3.9% (cardano) and 11.4% (litecoin). Stellar dropped nearly 3%. Their combined sentscore is 5.96, also just on the verge of the positive zone, and up from last Monday's 5.58. Furthermore, compared to six coins last week, four are in the positive zone now: bitcoin, ethereum, XRP, and cardano. Four others have scores between 5.1 and 5.7, while chainlink took the seat tether occupied last time - the one coin below the grade of 5.

Daily Bitcoin sentscore change in the past month:

Crypto Market Sentiment at the Verge of Positive Zone; Stellar Takes Top 103
Source: Omenics

___

* - Methodology:

Omenics measures the market sentiment by calculating the sentscore, which aggregates the sentiment from news, social media, technical analysis, viral trends, and coin fundamentals-based upon their proprietary algorithms.
As their website explains, "Omenics aggregates trending news articles and viral social media posts into an all-in-one data platform, where you can also analyze content sentiment," later adding, "Omenics combines the 2 sentiment indicators from news and social media with 3 additional verticals for technical analysis, coin fundamentals, and buzz, resulting in the sentscore which reports a general outlook for each coin." For now, they are rating 39 cryptocurrencies.

Follow us on Twitter or join our Telegram

More Stories