Crypto Market Sentiment Finally Sees A Rise, Led By Cardano

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Source: iStock / Easyturn

After weeks of decline, there is finally an improvement in market sentiment. The 7-day average mobile crypto market sentiment score (sentscore) for ten major coins has risen to 4.87, from 4.46 a week ago, according to data provided by the sentiment analysis service. from the Omenics market. While we still don’t have any pieces back in the positive zone, those who were in the negative zone last week have pulled themselves up into neutral territory.

The first sign of improvement over the past week is the fact that all but one of the coins have seen their respective scores increase. That coin is Litecoin (LTC), but even it saw a very minor 0.3% drop.

On the other hand, the increases are quite notable. The list is led by double-digit hikes, with cardano (ADA) taking the top spot at nearly 18%. It is followed by 14% of the USD coin (USDC), almost 12% of the bitcoin (BTC) and 11% of the ethereum (ETH).

The smallest rise is 6% seen by XRP, while it is preceded by the 7.5% binance coin (BNB), as well as uniswap (UNI), tether (USDT) and polkadot ( DOT) – whose scores increased between 9% and 10%.

There is a battle for the top that has developed over the past few weeks between the first two plays. The top is again held by ethereum, with a score of 5.7, followed closely by bitcoin of 5.6. In addition to them, ADA, USDC, and UNI have scores between 5 and 5.1. The scores for the remaining five coins are between 4.1 and 4.9.

Change of feeling among the first 10 pieces *: Interpretation of the scale of the scores: – 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, 11:42 UTC

Sent score over the past 24 hours looks even greener. At the time of writing, it’s 5.2 for the first 10 coins, down from just 4.55 around the same time last Monday. Only the USDC is red today, with a drop in its score of 3%. Litecoin’s highest rise was 9%, while Tether’s lowest was 1%. While bitcoin and ethereum have similar increases of almost 4%, respectively, ethereum tops the list, not only having the highest score, but also the only one in the positive zone, of 6.3. BTC is in third place, where we haven’t seen it for a very long time, with a score of 5.8, after 5.9 from cardano. Four other pieces have scores over 5, three are in 4.2-4.6 territory, and none are in the negative zone.

Daily change in Bitcoin send score over the past month:

Source: Omenics

Over the past week, the vast majority of the 25 coins outside the Top 10 list have also seen their ratings increase. Only three are down: monero (XMR) with almost 4%, as well as zcash (ZEC) and WAVES with less than 1%. QTUM recorded the highest jump, 31%, but it still wasn’t enough to get it out of the negative area, scoring 3.6 now. Scores for several other coins have seen double-digit increases, while 0x (ZRX) is the least up, 0.6%, currently sitting at 4, just above the negative area. Four pieces are in the negative zone, up from six last week. There are no pieces in the positive zone, while six have scores between 5 and 5.3.

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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 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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