Crypto Market Sentiment Dips For Third Week In A Row

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Source: iStock / Consultant Boonnak

Sentiment in the crypto market fell for the third week in a row, now sitting fairly close to the bottom line of the 5-6 range. The 7-day average mobile crypto market sentiment score (sentscore) for top ten crypto assets is 5.18 today, down from 5.22 a week ago, according to data provided. by the Omenics Market Sentiment Analysis Service.

Only four of ten coins are green, with tether (USDT) taking the lead, having risen 6% in the past seven days. Just behind is algorand (ALGO) with its score increase of 5%, followed by almost 4% Ethereum (ETH) and 2% Cardano (ADA).

On the other hand, crypto.com coin (CRO) is the coin of this week with the biggest loss, having seen its score drop by almost 11%. Polkadot (DOT), XRP and USD coin (USDC) follow it, with declines of more than 6%. The least to decrease are the binance coin (BNB) and the bitcoin (BTC) with respectively 3% and 2%.

During this time, there was another change in the first place. The rise in Ethereum combined with the fall in bitcoin has pushed ETH to the top spot on this list, with a score of 6.3, compared to 6.1 for BTC. No other room is in the positive zone. Four are in the range 5-5.7 and four are in the range 4.3-4.7.

Change of feeling among the first 10 pieces *: Interpretation of the score scale: – 0 to 2.5: very negative – 2 to 3.9: rather negative zone – 4 to 5.9: neutral zone – 6 to 7 , 49: rather positive zone – 7.5 to 10: very positive zone.

Source: Omenics, 11:34 UTC

Meanwhile, the score sent over 24 hours is currently 4.74, compared to 4.95 recorded last Monday. All parts except one are down today. That green coin is XRP, whose score is up 3%, making it the winner of the day. The drops are large in comparison. The highest of these is 9% BNB, followed by 6% ETH. The smallest are the 1% of the USDC and the 0.7% of the BTC. Meanwhile, only four coins now have scores above 5 namely BTC (5.6), USDT (5.6), ETH (5.3) and ALGO (5.3), which means that there are no coins in the positive zone. On the other hand, there are no coins in the negative zone yet, although ADA is close to achieving it with a score of 4. Other coins have send scores between 4 , 1 and 4.6.

Daily change in Bitcoin send score over the past month:

Source: Omenics

Omenics rates 35 coins in total, so looking at the 25 coins outside of the top 10 list, we find that most of their send scores have dropped over the past week: 15 to be precise. Vechain (VET) and Litecoin (LTC) fell the most – over 9%. The lowest is the 1% of the synthetix network token (SNX). The highest among the increases is 16% for WAVES, while the second-ranked monero (XMR) score is up 8%. The smallest is 0.6% by OMG. That said, OMG remains the only coin in the negative zone, as its increase was not enough to bring it from 3.9 above the 4 mark. The majority of coins on this list are in the negative zone. zone 4-4.9, six have scores between 5 and 5.6 and there are no pieces in the positive zone.

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* – 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 publications 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 social media and 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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