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The fine 9: The hottest coins this week using sentiment analysis

Remy Stephens returns to find nine altcoins roaring to life in this week’s sentiment analysis – including the likes of Bulwark, Solaris, and more!

Written by Remy Stephens Published on

Things are getting interesting.

Bitcoin has been ranging for quite a while now and as that’s happened, the 150 or so crypto traders and influencers I follow have started to choose sides. Bull or bear?

For most of the month, folks have been fairly neutral on where they think Bitcoin is going next. No longer. But things are very far from consensus.

Let’s first look at the sentiment of BTC vs the Alts.

Note: The chart above shows sentiment for $BTC and a combination of the top 20 Alt coins/tokens as of this writing on CoinMarketCap. 

The Alt market has clearly taken a bullish turn in the short term, as tends to happen during weeks when $BTC is stable.  But sentiment on Bitcoin, save from one day, has been almost dead neutral for the last week plus.

That may seem uninteresting, until you add one variable: Passion.

In addition to tracking how people feel about coins, I also track how strongly they feel that way using a measure called magnitude.  And boy do people feel strongly about $BTC these past few days.

It tells us a few things:

A) The cohort of influencers and traders I follow are pretty split on what will happen next, but..

B) They generally feel very strongly about what’s going to happen next, a good indication that we’re nearing some kind of decision point.

Interesting times, indeed. Trade safe.

Top Alts

These coins/tokens had the highest power rating in my analysis this week. The power rating is a weighted calculation taking into account sentiment, volume and the number of unique users who mentioned a coin. Generally, I eliminate any coins mentioned by less than 3 individual people as I don’t feel it would be representative of a trend.

You can always find my methodology at the bottom of my posts or pinned to the top of my Twitter page, where you can also find a legend for my charts.

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The Data

As always, here is all the coins I collected data on this week. If you’d like to see a chart for any of these, just @ me on Twitter @FomoCryptoDojo

CoinSentiment
(of 100)
VolumeInfluencersPower Rating
ABY402132
ABYSS201110
ACED773154.75
ADA48171272
ADX201110
AION483257.5
ALQO74121.75
AMB481124
ANS871143.5
APIS652144.5
APPL201110
ARCH201110
ARK201110
ARO8114
ARTX8114
ATVI481124
AUD951147.5
AUM771138.5
AURA942276.25
BABA871143.5
BAK872155.5
BAT847585.25
BAY481124
BBK481124
BCC201110
BCH179854
BCO202239.25
BNB4715770
BNT402249.25
BTC386508769
BTCP481124
BTS1110.5
BWK7414582.5
CAN82116
CATO981149
CDM481124
CLO201110
CMT202239.25
CNN634149.75
COLX693150.75
COSS481124
COV201110
CRW951147.5
DAI931146.5
DASH4211967
DBC481124
DBIX82233.25
DCR201110
DEEX201110
DEV778160
DGB6814579.5
DGD201110
DGX771138.5
DIG8114
DIME201110
DJI201110
DNR951147.5
DOCK2111
DOGE7510582.25
DRGN184348.25
DTB483140.25
DXY8114
DYN753153.75
EDO1110.5
ELA771138.5
ENG402249.25
ENJ201110
EOS1913956
ETC43181169.5
ETF872272.75
ETH20622859.5
ETN201110
ETP922158
EVX481124
EXP771138.5
EXRN481124
EXUS4112
FDR873277
FF481124
FLASH862272.25
FOR765275
FT02112
FUN771138.5
GALA771138.5
GAT771138.5
GCASH402132
GEO2111
GFY1311350
GIN944282.5
GLD201110
GRS201110
GVT636269.25
HKN862155
HLM4112
HMNY446259.75
HMT6712156.5
HOT922158
HTB201110
HUT481124
HXX202122
ICX19381258.25
IFT691134.5
INSN201110
IOST201110
IOT142119
IOTA694373.75
JD771138.5
JEX752149.5
KCS481124
KEY144125.25
KIN658271.25
KLKS446259.75
KMD923279.5
LBC481124
LEND931146.5
LIFE981149
LINDA698156
LINK6611376.5
LOC393356.75
LOOM775275.5
LSK1712854.75
LTC44171169.75
LUPX752149.5
LUX2111
LVH771138.5
MANA981149
MAZA871143.5
MBC4112
MDX771138.5
MEC201110
MFT202122
MKR871143.5
MORE771138.5
MSP203243.5
MTC951147.5
MUE488366.5
MVP475565.5
MWAT3910142
NANO16281356.75
NAV481124
NCASH871143.5
NDB4112
NEO44151069.25
NEXO692263.75
NIO144125.25
NKTR692146.5
NPXS685153.75
NULS15542.5
NXPS691134.5
NZD82116
OCE772150.5
OCN405139.75
OCP481124
ONT45342.75
PAY03116.25
PHR487145
PINK951147.5
PIRL435258.5
PIVX2111
POA862155
POE201110
POLIS693150.75
POLY402249.25
PPT173242
PROC201110
PY981149
PYN982161
QASH856280.25
QSP752149.5
QTUM2111
REN872272.75
REP771138.5
RLC481124
RUPX694152.75
RVN198553.25
SALT772150.5
SCRL483257.5
SCT201110
SEC692263.75
SENT772267.75
SHA773154.75
SNAP72115.5
SNM201110
SONO481124
SPANK481124
SPX82233.25
STONE853158.75
STRAT693268
SUB484259.5
SUN142119
TEL482253.25
THC972160.5
THETA871143.5
THR384137.25
TOMO201110
TPAY483140.25
TROLL4112
TRON201110
TRX67371382.5
TUBE201110
UBQ481124
URA402132
UUU481124
VBK201110
VEC481124
VEE481124
VEN931146.5
VET64671281
VIA485566
VIKKY8114
VNT201110
VNX873159.75
VOISE202122
VRC951147.5
VTHO4112
WABI184244.5
WAN7428884.5
WAVES443359.25
WCT201110
WTC1424754
XAU201110
XHV673267
XLM634471.75
XLR6514477.75
XMR638475
XPT871143.5
XPY201110
XRB691134.5
XRH202239.25
XRP13281655.5
XSN484259.5
XTZ8114
XVG168246.75
XZC469366.25
ZAP981149
ZCL448260.75
ZEC694270
ZIL656153
ZINC0110
ZNGA202122
ZNZ481124
ZPT467261.25
ZRX38171066.5

 

Methodology

Each week, I scrape the Twitter accounts of some of the crypto world’s favorite influencers, traders and TA folk. I run a sentiment analysis to see which coins they are mentioning positively, neutrally and which they are mentioning in a negative light.

I also take in data on unique influencers, retweets, favorites, volume and strength of feeling in sentiment.

I calculate power by through a weighted formula that takes into consideration volume, number of unique influencers and sentiment. The higher the score, the better, the lower the worse.

This isn’t financial advice, just my own way of trying to make sense of what’s out there. And as with most things, the more data I collect, hopefully, the more interesting it’ll be. This is a work in progress. Please leave suggestions on how to make it better. I imagine if I keep up with it, I’ll be able to expand a bunch of the analysis, but I wanted to start somewhere.

Start trading cryptocurrency with Coindirect.

Written by

Remy Stephens is a longtime data journalist from the U.S. who became mildly obsessed with cryptocurrency in 2017. More of his sentiment analysis can be found on Steemit. @FomoCryptoDojo