• About
  • Advertise
  • Privacy & Policy
  • Contact
Cryptos Valuator
  • Home
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Exchanges
No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Exchanges
No Result
View All Result
Cryptos Valuator
No Result
View All Result
Home Altcoin News

Crypto Market Sentiment Sinks into Neutral Zone; EOS Rules the Week

July 2, 2021
in Altcoin News
0
Crypto Market Sentiment Sinks into Neutral Zone; EOS Rules the Week
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

The combined moving 7-day average crypto market sentiment score (sentscore) for the top 10 coins by market capitalization dropped out of the positive zone last week, and though it had stood very near the border at the time, it sunk deeper into the neutral zone since, according to the crypto market sentiment analysis service Omenics. Compared to the score of 5.92 a week ago, the sentscore for the past seven days is now 5.55/10.

Despite bitcoin (BTC) making a significant break last week, nearing the USD 14,000 level, the top 10 coins didn’t see the best of weeks sentscore-wise. All but two of the coins’ scores fell. These two are the winners of the week, the first of which is EOS, having risen 6% to the score of 4.7. And this comes after the coin stood as the second-largest loser of the last week, behind tether (USDT).

The other green coin is litecoin (LTC), which experienced a 21% rise in its price in October, and now its sentscore also went up 2.3% – though that wasn’t enough to lift it from last week’s score of 6.1. Nonetheless, it’s still one of only three coins in the positive zone.

Speaking of which, despite their respective falls, bitcoin and ethereum (ETH) still remain in the positive zone, though significantly further from the nearly-reached next levels: score of 8 for the former and 7 for the latter.

The drops have been quite large this time around, resulting in more coins falling below the grade of 5. At the top here is cardano (ADA), whose score decreased nearly 20%. And it’s not the only coin with a double-digit drop. Binance coin (BNB)’s and tether’s scores dropped 14% and 10%, respectively. Chainlink (LINK) had the smallest drop of less than 1%.

Sentiment change among the top 10 coins*:
Interpreting the sentscore’s 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

The situation for these coins within the last 24 hours alone is not any better. Though the combined moving average sentscore for the top 10 coins managed to just barely break back into the positive zone last Monday, compared to that, it now dropped to 5.47/10. Still, all but one coin are green today. The week’s winner is the day’s loser. EOS is not only the single red coin today, but its drop also pushed it into the negative zone (3.9), making it the only coin there. The three coins in the positive zone this week, are there this day as well. BNB and ADA are still below the grade of 5, with the former standing relatively near the negative zone (4.1).

Daily Bitcoin sentscore change in the past month:

Focusing now on the weekly performance of the 29 coins outside the top 10 list which are also tracked by Omenics, we find that only 6 coins had a rise in their scores. Of these, trueUSD (TUSD) took the lead with a 9% rise. Among the red coins, tezos (XTZ) dropped the most (16.5%) and into the negative zone with a score of 3.7. Monero (XMR) was in the positive zone for a while, but thanks to its 9% drop, it fell to 5.3/10, with no coins taking its spot. And while the number of coins in the positive zone fell to zero, that in the negative zone climbed to three. Besides tezos, ontology (ONT) also joined komodo (KMD) which has been residing in this zone for several weeks now.

___

* – 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 39 cryptocurrencies.

Previous Post

Birthday Wishes Coming True? Bitcoin (BTC) Marks $14,000 on 12th Anniversary Then Something Changed

Next Post

Hong Kong to Mandate Crypto Exchange Regulations

Next Post
Hong Kong to Mandate Crypto Exchange Regulations

Hong Kong to Mandate Crypto Exchange Regulations

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 123 Followers
  • 23.8k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Venezuela Considers Proposal to Include Bitcoin in Central Bank Reserves

Venezuela Considers Proposal to Include Bitcoin in Central Bank Reserves

June 23, 2021
Newegg Expands Bitcoin Payment Option To 73 More Countries

Newegg Expands Bitcoin Payment Option To 73 More Countries

July 4, 2021
World of Ether Goes Live on Ethereum Mainnet, Soon Becoming Top Ranked Crypto Game

Enterprise Ethereum Alliance Opens Regional Office In South Korea

August 6, 2021
World of Ether Goes Live on Ethereum Mainnet, Soon Becoming Top Ranked Crypto Game

Black Friday Drags Crypto Market Down, Bitcoin & Ethereum Price Plunges

August 4, 2021
UPbit Audit Reveals That South Korea’s Cryptocurrency Exchange is Not Guilty

UPbit Audit Reveals That South Korea’s Cryptocurrency Exchange is Not Guilty

Goldman Sach’s Cryptocurrency Startup Circle Raises $110 Million Led By Bitmain Technologies

Goldman Sach’s Cryptocurrency Startup Circle Raises $110 Million Led By Bitmain Technologies

NASDAQ-Powered Crypto Exchange To Go Live in June 2018

NASDAQ-Powered Crypto Exchange To Go Live in June 2018

Why is ZCash Price Rising ? | Latest Crypto News

Why is ZCash Price Rising ? | Latest Crypto News

UK Treasury To Seek Input on Taxing DeFi

UK Treasury To Seek Input on Taxing DeFi

May 31, 2023
Bitfarms Hits All-Time High in Hashrate Amid Expansion into Argentina

Bitfarms Hits All-Time High in Hashrate Amid Expansion into Argentina

May 29, 2023
Circle Breaks Boundaries With New Cross-Chain USDC Protocol

Circle Breaks Boundaries With New Cross-Chain USDC Protocol

May 26, 2023
Terraform Labs Co-Founder Do Kwon Charged With Fraud After Arrest

10,000 Bitcoin shifted to Swiss Bank Triggers Do Kwon and TFL Probe by South Korean Prosecutors

May 24, 2023

Recent News

UK Treasury To Seek Input on Taxing DeFi

UK Treasury To Seek Input on Taxing DeFi

May 31, 2023
Bitfarms Hits All-Time High in Hashrate Amid Expansion into Argentina

Bitfarms Hits All-Time High in Hashrate Amid Expansion into Argentina

May 29, 2023
Circle Breaks Boundaries With New Cross-Chain USDC Protocol

Circle Breaks Boundaries With New Cross-Chain USDC Protocol

May 26, 2023
Terraform Labs Co-Founder Do Kwon Charged With Fraud After Arrest

10,000 Bitcoin shifted to Swiss Bank Triggers Do Kwon and TFL Probe by South Korean Prosecutors

May 24, 2023
Cryptos Valuator

Follow Us

Browse by Category

  • Altcoin News
  • Bitcoin
  • Bitcoin News
  • Blockchain
  • Blockchain News
  • Business
  • Coins
  • Cryptocurrency
  • Cryptonews Deals
  • DeFi News
  • Economy
  • Ethereum
  • Ethereum News
  • Events
  • Exchanges
  • General
  • ICOs
  • Industry Talk
  • Markets
  • News
  • NFT News
  • Opinion
  • Press Releases
  • Regulation
  • special site
  • Sponsored
  • World

Recent News

UK Treasury To Seek Input on Taxing DeFi

UK Treasury To Seek Input on Taxing DeFi

May 31, 2023
Bitfarms Hits All-Time High in Hashrate Amid Expansion into Argentina

Bitfarms Hits All-Time High in Hashrate Amid Expansion into Argentina

May 29, 2023
  • Terms & Conditions
  • Privacy Policy

© 2021 Cryptos Valuato

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Exchanges

© 2021 Cryptos Valuato