Crypto sentiment: Stellar, Binance Coin, and Dogecoin in the top 5
Sentifi’s cryptocurrency sentiment indicator sees Stellar (XLM), Binance Coin (BNB), Dogecoin (DOGE), Chainlink (LINK), and Ethereum (ETH) in the top 5 for the last week.
Sentifi, the AI platform alternative data provider that analyzes data from social media, news, and blogs, revealed the market’s cryptocurrency fear-and-euphoria trends of the last week.
Crypto sentiment, the ranking
Taking the top spot for market euphoria is Stellar (XLM), which had a sentiment score of 40 and attention of 12% over the past week. Silver medal for Binance Coin (BNB) with a sentiment score of 37.
Still on the podium, Dogecoin (DOGE), the crypto meme that, despite falling 20% in the last week, retains the third position with a sentiment score of 36. The previous week, however, DOGE’s sentiment was 46.
Following the top 5 of euphoric crypto sentiment, we find Chainlink (LINK) and Ethereum (ETH), with respective scores of 35 and 34.
A fall in interest seems instead to have touched Uniswap (UNI), which from a sentiment of 60 points in the previous week, which saw it in the first place, is now below the top 5. Litecoin (LTC) also saw a decline.
Crypto sentiment and price: what has changed?
The trend on market participants’ mood in a way could be related to the asset price. Comparing Sentifi’s top 5, here’s how cryptocurrency prices have changed.
Over the past two weeks, Stellar (XLM) has seen a price pump that has caused it to hover between $0.36 and $0.40, compared to $0.24 and $0.30 in previous weeks.
In this case, the optimism is reflected right in the price growth.
Binance Coin (BNB), the fourth-largest cryptocurrency by market capitalization, has seen the same bullish trend just in the last few weeks going from $350 to $426, with a super price pump over the weekend that sees BNB within a hair’s breadth of $500.
Moving down the list, Dogecoin (DOGE), which recently saw the Dogecoin Foundation’s resurrection with new representatives Elon Musk and Vitalik Buterin, saw a price pump that took it from $0.25 to $0.32.
LINK also rose from $26 in the previous week to $29, while ETH from $3,100 increased to $3,350.
On the negative side, instead, Uniswap (UNI), which from 29$ of the previous week, dropped last week to 25$, but returned to 29$ already during the weekend.
Bitcoin sentiment and BTC price
Today is a special day for Bitcoin: the queen of cryptocurrency BTC’s price has gone beyond the psychological barrier of $50,000.
Not only that, even though it does not figure in Sentifi’s top 5, its Fear and Greed index for today came in at 79: extreme euphoria.
— Bitcoin Fear and Greed Index (@BitcoinFear) July 8, 2021
And, in fact, the price of BTC after a week that fluctuated at $46,000 saw its pump over the weekend, taking it to the new price of 50k.