This week, the average 7-day moving crypto market sentiment score (sentscore) for the ten major cryptocurrencies remained positive at 6.25 out of 10. According to data from crypto market sentiment analysis site Omenics, we are at a slightly lower point compared to the 6.43 score recorded from the previous week.

 

 

Bitcoin (BTC), the top cryptocurrency, remains the only cryptocurrency with a very positive market sentiment score of 7.7. This is followed by Ethereum (ETH), which remained positive with 7 points. Market sentiment for Tether (USDT) dropped over 15%, making it the only major currency to approach a slightly negative sentiment zone. All other top 10 cryptocurrencies remained positive, except for Binance Coin (BNB), which had a great week in terms of price evaluation, but remained in a neutral zone.

Change of emotion among top 10 cryptocurrencies:

Interpreting the Sentscore scale:

  • – 0 – 2.5: very negative
  • – 2 – 3.9: slightly negative zone
  • – 4 – 5.9: neutral zone
  • – 6 – 7.49: somewhat positive zone
  • – 7.5 to 10: very positive zone.

Speaking of daily sentiment movements among the 10 major assets, the biggest improvement was made by USDT, which rose to 4.7 – a net improvement of 7.4%. In the last 24 hours, BTC market sentiment has risen to 7.9, but has declined slightly since then.

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Out of 10 cryptocurrencies, the biggest weekly sentiment increase was experienced by yearn.finance (YFI) and Crypto.com Coin (CRO), both rising over 10% and reaching 6.1 out of 10.

When it comes to the decline in sentiment, there is no crypto currency that has left Tether’s 15% drop behind, its closest competitor Aave (AAVE) has returned to neutral territory with a 7-day moving average drop of 8.3%.

The highest altcoins remained Nano (NANO) with 6.8, Algorand (ALGO) with 6.5, Cosmos (ATOM) with 6.5 and Uniswap (UNI) with 6.4 points. None of the 36 crypto assets measured by Omenics are in the negative sentiment zone.

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