Source: iStock/Nikada
Sentiment among crypto market participants increased over the past week, with major crypto assets once again posting the strongest sentiment. According to market sentiment analysis service Omenics, the 7-day average score for 10 major cryptos rose to 5,02 this week from 4,7 last week.
Of the 10 coins tracked, most saw a higher score this week compared to last, with stablecoin Tether (USDT) and XRP being the only two with a lower score. USDT fell from 5,1 last week to 4,7 today, while XRP fell slightly from 4,3 to 4,2.
The biggest gainer in terms of sentiment this week was cosmos (ATOM), which was up 0,8 points from last week to a score of 5,1 today. The coin was followed by BNB and crypto.com coin (CRO), which were up 0,7 points to a score of 5 and 4,5, respectively.
Just like last week, bitcoin (BTC) had the highest 7-day shipping score among the top 10 coins tracked, with a score of 5.7.
Every play this week had sent in scores that put them in the neutral zone, as defined by Omenics.
Change in sentiment among the top 10 currencies*:
Interpretation of the sentscore scale:
- 0 to 2,5: very negative
- 2 to 3,9: quite negative area
- 4 to 5,9: neutral zone
- 6 to 7,49: quite positive area
- 7,5 to 10: very positive area
Source: Omenics, 14:04 PM UTCLooking at the changes over the last 24 hours, we can see that the currency with the strongest sentiment right now is the USD stablecoin (USDC). With a 6 hour delivery score of 24, USDC is the only coin in the top 10 with a delivery score in the zone defined as positive by Omenics. The coin was tracked by BTC with a 5,4-hour score of 24, which is well below its 7-day score.
The only other coin that saw stronger sentiment over the past day compared to its weekly average is CRO, which rose to a 4,9-hour score of 24 from a 4,5-day score of 7. All other rooms felt worse.
XRP and cardano (ADA) were the only two coins with 24-hour shipping scores in the negative zone, with scores of 3.9 and 3.8, respectively.
No coin had a shipping score in the positive zone in the last 24 hours.
Daily change in Bitcoin sending score over the last month:
Source: OmenicsZooming out to look at the 35 coins tracked by Omenics over 7 days, it appears that the market is favoring large-cap crypto assets at the moment, with no signs of an “alternative season” in sight.
The strongest sentiment is still seen in BTC, followed by USDC and ETH. Outside the top 10, REN ranked fifth best sentiment with a score of 5,5, while zcash (ZEC) and uniswap (UNI) scored 5,3 and 5,2, respectively.
On the downside, tezos (XTZ), nem (XEM), and ontology (ONT) entered with scores of 4 out of 7. The three altcoins were followed by XRP, chainlink (LINK), and EOS, with scores of 4.2, 4.2, and 4.3. , respectively.
Notably, all coins tracked by Omenics had 7-day scores in the zone defined as neutral.