Crypto analytics firm Santiment has scrutinized five cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), according to specific metrics. 2 of these cryptocurrencies show an upward trend while 2 of them show a bearish signal. One of them has a neutral appearance.
Crypto analytics firm Santiment reported that Ethereum (ETH), Basic Attention Token (BAT), and Maker (MKR) seem to be more bullish in the short term, based on several metrics.
The company took into account the three-day averages of each asset in three metrics. These are listed as Daily Effective Addresses, NVT Rate and Volume of Emotion Consumed.
Santiment treats each cryptocurrency with a rating system ranging from 0 to 10. 0 indicates the downward trend, and 10 indicates the extreme point of the bullish trend. The number 5 means that the price will be horizontal.
Rise signal in Basic Attention Token (BAT) and Maker (MKR)
In the report on the subject, metrics were applied on five cryptocurrencies. Accordingly, Bitcoin (BTC) signals a slight downtrend with an average of 3.8. Ethereum (ETH) got an average of 5.5 points. This score shows that the second largest cryptocurrency is neutral. Another cryptocurrency reviewed was the Raiden Network Token (RDN), and RDN scored the worst among 3.3 to five cryptocurrencies. This score means that the RDN has a slight downward trend.
Cryptocurrencies that showed an upward trend were Basic Attention Token (BAT) and Maker (MKR). These cryptocurrencies received 8 and 8.2 respectively.