Crypto Market Sentiment Moves Up; BTC on Top, ATOM Sees Biggest Improvement
Sentiment among crypto market participants rose over the last week, with major cryptoassets once again seeing the strongest sentiment. According to the market sentiment analysis service Omenics, the average 7-day sentscore for 10 major cryptos rose to 5.02 this week, up from 4.7 last week.
Among the 10 coins tracked, most saw a higher sentscore this week compared to last, with the stablecoin tether (USDT) and XRP being the only two with a lower sentscore. USDT dropped from a sentscore of 5.1 last week to 4.7 today, while XRP dropped marginally from 4.3 to 4.2.
The biggest gainer in terms of sentiment this week was cosmos (ATOM), which rose by 0.8 points from last week to a sentscore of 5.1 today. The coin was followed by BNB and crypto.com coin (CRO), which both rose by 0.7 points to a sentscore of 5 and 4.5, respectively.
Like last week, bitcoin (BTC) had the strongest 7-day sentscore among the top 10 coins tracked, with a score of 5.7.
All of the coins this week had sentscores that placed them in the neutral zone, per Omenics’ definition.
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
Drilling down to look at the changes over the past 24 hours, we can see that the coin with the strongest sentiment is now the stablecoin USD coin (USDC). With a 24-hour sentscore of 6, USDC is the only coin in the top 10 with a sentscore in zone defined as positive by Omenics. The coin was followed by BTC with a 24-hour sentscore of 5.4, which is down markedly compared to its 7-day sentscore.
The only other coin that saw stronger sentiment over the past day compared to
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