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Market sentiment remains unchanged


Data from the Omenics analytics platform show that sentiment in the digital currency market has remained virtually unchanged this week, near positive territory.

to the Report Crypto News, this week, the 7-day moving average of the market sentiment score, or Sentscore, for the top 10 digital currencies, has slightly decreased compared to Monday last week, from 5.94 to 5.89. Over the past week, digital currencies have not changed significantly in their market sentiment, yet the USCin (USDC) and Ripple are two digital currencies whose data fall outside this framework.

The Omnix platform examines market sentiment based on news, social media, technical analysis, popular trends, and fundamental factors related to each digital currency, based on their algorithms. Currently, the platform handles only 35 digital currencies. Emotion score is always a number between 0 and 10, with a score above 5.9 in the positive zone and a score below 4 in the negative zone.

Quinn’s US market sentiment fell by about 17%. Currently, the market sentiment of this digital currency is located near the neutral zone and tends to the negative zone. US Quinn has the lowest score among the top 10 currencies in the market. The ripple cents also fell about 5 percent, but the digital currency is still in the neutral zone with a score of 5.3.

Also read: What is emotion analysis and how is it done?

If we want to talk about digital currencies that have performed best, the Pulkadat market sentiment has increased by about 2% to 6.4. Bitcoin and Ethereum remained unchanged for the week, and their sentiment remained positive in the region with minimal change from last week. The same is true of other digital currencies above the neutral zone. Cardano and Chainlink have a score of 6.2 and 6, respectively.

Interpretation of market sentiment points:

  • 0 to 2.5: Very negative
  • 2 to 3.9: Somewhat in the negative zone
  • 4 to 5.9: Neutral zone
  • 6 to 7.49 to some extent in the positive zone
  • 7.5 to 10: Very positive area
Market sentiment remains unchanged
Emotional rating of the top 10 digital currencies on the market

Looking at the last 24 hours, it can be seen that Tetra had the highest growth with a 5.5% increase and reaching a score of 5.7. Ripple also performed well and its emotional score increased by 4% to 5.3 in the neutral zone. Cardano, meanwhile, dropped nearly 5 percent to 5.8 in the neutral zone.

Other items on the list that have been somewhat bullish over the past 24 hours are Bitcoin digital currencies with a score of 7.4, Ethereum with a score of 6.6, Polkadot with a score of 6.2, Uniswap with a score of 6.2 and Chainlink with a score of 6. Are 3.. The average 24-hour score for the top 10 digital currencies in the market is 5.94, which is in the neutral zone. The figure is slightly higher than 5.88 points on Monday last week.

Market sentiment remains unchanged
Graph of Bitcoin emotion change in the last month

Among the 25 other currencies Omnix surveyed, the Ontology performed best in the last 7 days. The digital currency has grown 9 percent, but remains in the neutral zone with a score of 4.9. Theron’s emotional score also increased by 8% to 6.2. Zcash, on the other hand, dropped 11 percent to 5.1, Synthetix fell 5.4 percent and EOS fell about 6 percent. The decline has gained 5.5 points since the beginning of last week.

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