Crypto analytics firm Santiment said Ethereum (ETH), Basic Attention Token (BAT) and Maker (MKR) will perform better than Bitcoin (BTC) in the short term.
Coins examined with 3 metrics
Santiment looked at the three-day averages of each asset in three metrics. First metric Daily Active Addresses (DAA); It compares the price differences and the price action of the asset to the number of unique crypto addresses that interact with these particular cryptocurrencies daily. The metric sees the price action in front of DAA as a downward signal, or vice versa.
The second metric, Network Value – Transaction Rate (NVT), compares the value (transaction volume / token circulation) transmitted in a particular network to the market value of the network. If the transaction volume is low compared to market value, an asset is considered to be overvalued, and vice versa.
The third metric, Consumed Emotion Volume, measures the market participants’ emotions on Twitter.
Santiment evaluated each asset using a simplified grading system: Points awarded are between 0 and 10. 0 represents the most drop and 10 represents the bull. 5 represents an estimate of sideways consolidation.
The Most Bullish Coin: Maker
Bitcoin reached an average of 3.8 points by taking 3 points against price deviation, 2 according to NVT and 6.5 points in terms of sensitivity consumed according to DAA method. This seems to be a “slight decrease” for the average BTC.
Ethereum received an average of 5.5 (neutral) points, receiving 5 points against price deviation, 5.5 points according to NVT and 6 points in terms of sensitivity consumed according to DAA method.
Basic Attention Token achieved an average of 8.0 (bull) points by receiving 8.5 points against price deviation, 9.5 points according to NVT and 6 points in terms of sensitivity consumed according to DAA method.
According to the DAA method, Maker scored 9 points against price deviation, 10 points according to NVT and 5.5 points in terms of the sensitivity consumed and achieved an average of 8.2 (bull) points.
Santiment explained that these scores were about the short-term outlook, stating that none of the assets provided information on the long-term outlook.