Seeking out the top coins these last few weeks has been like searching for a perfect cut in a pile of diamonds.
Altcoins have been on a blistering pace in recent weeks, last night’s cool down not withstanding, turning crypto social media into a block party for coin shilling. In the last two weeks alone, I’ve collected data on more than 200 coins and tokens and nearly 1,600 distinct mentions.
Here’s how this works. We’re all prone to biases, so I do a blind analysis. Every week, I scrape the social media postings of 40 prominent influencers and traders, chart every time they mention a specific coin or token and whether they list it in a positive, negative or neutral light. I tally those up (1 point for a positive mention, -1 for negative) on a monthly, weekly and, just for CoinInsider, a bi-weekly basis.
I subtract the negative from the positive to get what I call a power rating, which is just a score of the net sentiment, one way or the other. The higher the score, the better that currency did. Simple.
Generally speaking, I keep it to predictions. I’m less interested in people remarking that a chart is going up or down.
Why these folks? Because people trust them. I know larger sentiment analyses exist, but I think there’s less value in scraping the sentiment of 10s of thousands of amateur traders, most of whom are new to the game.
The idea? The blind analysis of dozens of crypto influencers should overcome any individual biases. It’s a means of pulling a signal from a metric ton of noise. It’s early, but so far the returns have been promising.
So let’s get to it. The charts below show the top 10 coins, by power rating, from April 11 to April 24, and how they got there, day-by-day:
$SENT (tie) — +18
$POE (tie) — +18
$XRP — +19
$STRAT (tie) — +20
$LEND (tie) — +20
$BNB (tie) — +20
$LUX — +22
$OCN — +35
$TRX — +36
$ICX — +37