Crypto Market Sentiment Drops; BTC and USDC on Top, WAVES Sees Biggest Jump
Sentiment among traders and investors in the crypto market saw a slight drop this week, with volatile and ‘choppy’ markets in recent days and weeks frustrating traders who are looking for clear trends.
According to data from the market sentiment analysis service Omenics, the average 7-day sentscore for 10 major cryptos dropped to 4.9 this week, down from 5.02 last week, but still up from the 4.7 seen two weeks ago.
The stablecoin USD coin (USDC) came in on top this week with a sentscore of 5.8, just above bitcoin (BTC) with its sentscore of 5.7, and ethereum (ETH) with a score of 5.2.
The strong sentiment for USDC this week marks a further increase from 5.6 last week when USDC had the second-strongest sentiment after BTC. The sentiment around the number one crypto, meanwhile, was unchanged from last week.
Like last week, all of the top 10 coins tracked by Omenics this week had sentscores that the company considers neither positive nor negative.
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 zone
Looking more closely at what has changed in terms of sentiment over the past 24 hours, we see that the top spot has been taken by the Ethereum-alternative polkadot (DOT), which came in with a sentscore of 5.7.
Bitcoin, which came in second on the weekly overview, is down to a sentscore of 5.4 on the daily overview. The coin came in after USDC as the coin with the third-strongest sentiment.
The coin with the weakest sentiment today was crypto.com coin (CRO) with a 24-hour sentscore of 4.1.
As in the weekly ranking, all coins in the top 10 had a sentscore in the neutral
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