Home NewsAltcoin News

Follow us on Twitter or join our Telegram

Crypto Market Sentiment Improved Over the Week

Crypto Market Sentiment Improved Over the Week 101
Source: iStock/MicroStockHub

We find the crypto market sentiment measure, Sentscore, at 5.29 this Monday, which is better than 5.03 seen this time last week, but still not reaching its 5.66 score from two weeks ago, according to Omenics , a crypto market sentiment analysis service.

As it became a standard over the past few weeks, there are no coins in the negative zone, while two stand in the positive zone. Number one on the list among the top 10 cryptocurrencies by market capitalization is Bitcoin, which has a Sentscore of 7.5/10, higher than 6.1 last week. Last week’s number two in the positive zone, Binance Coin, dropped from 6.5 to 4.9. Litecoin is back to that spot, sitting at the very verge of the positive zone with a score of 6, up from 5.9.

The lowest score on the list of the top 10 coins is carried by Stellar (now 4.3, down from last Monday’s 5.1), immediately followed by Tether (now 4.4, down from 4.9).

Sentiment change among the top 10 coins*:
Interpreting the Sentscore’s scale:
- 0 to 2.5: very negative
- 2 to 4: somewhat negative zone
- 4 to 6: Neutral zone
- 6 to 7.5: somewhat positive zone
- 7.5 to 10: very positive

Crypto Market Sentiment Improved Over the Week 102
Source: Omenics, UTC 12:33 PM

We’ve got yet another “all but three” reversal. All but three coins were losers last week, but all but three are winners now. EOS stands out with a rise of 19%, followed by Cardano with 18.1%. The honorary mentions this week go to Bitcoin with +15% and Ethereum with its rise of 13.4%. The strongest aspect of EOS by far is its news, scoring a high grade of 7.5. However, it’s technical is very low, at just 2.3. Cardano’s difference in scores is somewhat less pronounced, but still significant. The highest grade is also in news (6.2), but the lowest is in fundamental (3.3).

On the other hand, three that saw a drop are: Binance Coin (-9.9%), Stellar (-7.1%), and Tether (-4%). Binance Coin has relatively high grades overall, its highest being technical (6.4) and news (6.1). Its fundamental and social are at 5.5 and 5.1 respectively, while its buzz is at 4.6. Stellar’s highest score is 6.7 in news and the lowest is 3.5 in fundamental and technical. Finally, Tether earned a high score of 7.5 in news this week, but only 3 in fundamental.

Bitcoin Sentscore:

Crypto Market Sentiment Improved Over the Week 103
Source: Omenics

Out of the 30 coins that are currently tracked by Omenics, Qtum (3.8 to 4.2), Dash (3.6 to 4.2), and Dogecoin (3.9 to 4.7) are no longer in the somewhat negative zone. Lisk (3.9) and OmiseGo (3.7) are joined by IOTA and Ethereum Classic, both with a score of 3.8.

Watch the latest reports by Block TV.

___
* - 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 30 cryptocurrencies.

Follow us on Twitter or join our Telegram

More Stories