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June 28, 2022
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The crypto sentiment changes direction as the BTC improves

The average 7-day crypto mobile market sentiment score (sentscore) for ten major currencies is up to 4.88, compared to 4.7 recorded. a week ago, according to data provided by the market sentiment analysis service Omenics. And while no currency has made it back to the positive zone, one came very close this week: Bitcoin (BTC).

Compared to the all-red image from a week ago, in the last seven days, only one coin ended the week in red: the currency in USD (USDC) fell 2.5%.

All others saw an increase in their scores, with tether (USDT) topping the list by far. Its sentscore rose 14%, while second-placed polkadot (DOT) rose 5%.

Two other currencies that are very close to the DOT high are bitcoin and ethereum (ETH), which have increased by about 5%. While currency binance (BNB), XRP and uniswap (UNI) increased by more than 1%, litecoin (LTC) and cardan (ADA) increased by less than 1%.

Change of sentiment between the first 10 currencies *:

Interpreting the sentscore 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 zone.

Source: Omenics, 11:45 UTC

In just the last 24 hours, the image looks even greener. Compared to last Monday’s 24-hour total for the top 10 currencies of 4.65, today we find 5.39. Not only that, but three coins are in the positive zone now – the same three coins mentioned above with 7-day scores above 5: bitcoin leads at 6.8, ethereum follows at 6.4 and tether is at 6. Three more have scores of 5 and above – ADA, UNI and DOT, while the rest are in the range of 4.5-4.9. Only USDC at -6% and UNI at -1% fell, while the rest scores increased to 7% (DOT).

Daily Bitcoin sentscore change in the previous month:

Altcoins feeling
Source: Omenics

Lastly, when it comes to the 25 remaining coins beyond the top 10 list, most – however small – have seen a drop in their sentscores. Twelve have gone up and thirteen have gone down last week. Chainlink (LINK) recorded the biggest increase in its sentscore, 15%. It is followed by 13% of NEO , while WAVES , QTUM and zcash (ZEC) increased by 11% -12%. The others have single-digit increases, the smallest of which is 2% of tron ​​(TRX) . As for the drops, the highest is 13% per synthetix network token (SNX) and the lowest is 2% per tezos (XTZ). There are also no coins in the positive zone this week, while six (one less than a week ago) have scores above 5. Also, the highest score on this list is relatively low – at least lower than what we’ve seen over the weeks. above: it is 5.3 per compound (COMP) . But when it comes to the negative zone, it has only one resident remaining (also one less than last week), OMG with 3.9.

* – Methodology:

Omenics measures market sentiment by calculating the sentscore, which aggregates sentiment from news, social media, technical analysis, viral trends and currency fundamentals based on its proprietary algorithms.
As the site explains, “Omenics aggregates trending news and viral social media posts into an all-in-one data platform, where you can also analyze the sentiment of the content,” adding later, “Omenics combines the 2 metrics of news and social media sentiment with 3 additional verticals for technical analysis, currency fundamentals and buzz, resulting in the sentscore that reports an overall perspective for each currency. ” For now, they are evaluating 35 cryptoassets.

Source: CryptoNews

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