Crypto market sentiment continues to improve

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Source: iStock / Xijian

The 7-day average mobile crypto market sentiment score (sentscore) for top ten crypto assets by market cap continues to point to a somewhat positive area and stands at 5.91 today – a further increase compared to 5.85 last Monday.

According to Omenics, a crypto market sentiment analysis service, most of the top coins haven’t seen much change in sentiment since last Monday, but those that did have seen significant moves at the rise. Tether (USDT) saw the biggest improvement in sentiment as it rose to 5.1 – a 16% increase. It was followed by Chainlink (LINK), whose sentiment entered the somewhat positive zone at 6.1, up 11% in the past 7 days.

The rest of the top 10 crypto assets suffered a sentiment change of less than 4%. XRP was down -3.7% in sentiment and is now in the neutral zone. Likewise, sentiment for binance (BNB), cardano (ADA) and uniswap (UNI) coins fell by more than 2%.

Bitcoin (BTC) still tops the list with a positive sentiment of 7.4. Ethereum (ETH) is also deeply entrenched in somewhat positive sentiment at 6.8, followed by polkadot (DOT) with 6.4, LINK with 6.1 and UNI at 6. Currently, none of the top ten cryptoassets are ‘is in the negative zone.

Source: Omenics, 11:04 UTC

Looking at the daily swings in sentiment, most of the best coins are in the red and only three coins are in the somewhat positive area today – BTC (7.4), ETH (6.4) and DOT (6.2). The USDT posts a further increase in sentiment today at 5.6, a 7% daily increase, the highest in the market. At the opposite end of the chart we find the competitor to the USDT USD Coin (USDC) which stands at 5.4 – a 5% decline in the last 24 hours. It’s not a positive sentiment day for Ethereum either, as it tracks USDDC with a -4.5% daily reduction in sent score.

Source: Omenics

Zooming out and looking at the 35 crypto assets tracked by Omenics over the past seven days, iota (MIOTA) managed to outperform the weekly leader USDT with a 20% increase in starting score, albeit its moving average on 7 days of 5.8 does not push it. the somewhat positive area again. Other coins that had a great week were Compound COMP, Monero XMR, and Cosmos (ATOM), all of which improved their starting score by over 10%. The worst performer in terms of market sentiment last week was Maker’s MKR, which lost 8% of its score last week .____

* – Methodology :

Omenics measures market sentiment by calculating sentscore, which aggregates sentiment from news, social media, technical analysis, viral trends, and coin fundamentals based on their proprietary algorithms. media posts in an all-in-one data platform, where you can also analyze the sentiment of the content, “adding later:” Omenics combines the 2 sentiment indicators of news and social media with 3 additional verticals for technical analysis, coin fundamentals and buzz, resulting in sentscore which reports a broad outlook for each coin. “At the moment, they are evaluating 35 cryptoassets.

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