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Sentiment analysis: This week’s top performing coins

With Bitcoin’s value waxing and waning, how have other cryptocurrencies fared? Remy Stephens unpacks several surprises in the altcoin market in this week’s sentiment analysis.

Written by Remy Stephens Published on

What a difference a few weeks makes.

After flying high through April, there was still plenty of positive sentiment being dished by the 40 traders and influencers we follow for our analysis. Not so much these days.

Bitcoin has taken a pretty consistent and sound beating since dancing with $10,000 USD at the start of the month, which has dragged down most Alts, who it could be argued were in need of a cooling off period anyways.

In fact, the $BTC sentiment chart looks like the polar opposite of what we had just two weeks ago. I’ll say this every week — regardless of sentiment, if $BTC is down, so will your Alts.

Yeesh. Clearly not a pretty chart.

The most notable thing I’ve seen in our data is that $BTC broke its bullish sentiment trend line on May 16, which preceded our fall back below $8,000 over the last several days.

Trading any cryptocurrency right now is a dangerous game. Most of the traders and influencers I follow have pegged a turnaround in the mid $7,000s, an area we’re just starting to enter as of this writing.

But if you’re going to try and catch a knife, be prepared to get bloody.

The Top Alts

We had some surprises and some predictable climbs during these past few weeks.

$OCN, for example, had a massive price drop after a news release, but unlike $XVG last month, it barely dented the support for the fairly young coin.

On the other side, there’s $TRX. With Tron’s mainnet expected to launch by the end of May, sentiment began to climb sharply last week, just ahead of a price breakout.

With that, here are the top altcoins/tokens for the last two weeks and how they got there. A word of advice, pay close attention to the charts and when sentiment spiked. A coin that saw a huge surge back in the second week of May but has leveled off may not be as valuable in the short-term as one that has been roaring more recently.

7. (tie) $ZIL + 11

7. (tie) $VEN + 11

6. $XRP + 12

4. (tie) $XRH + 13

4. (tie) $SS + 13

3. $TRX + 18

2. $ICX + 31

1. $OCN + 39

Everything

As always, here is all the data I collected over the past few weeks.

CoinPositiveNeutralNegativeTotal MentionsPower
ACT10011
ADA908171
ADST10011
ADX10011
AE20022
AELF01010
AION41054
AKA10011
AKL10011
AMB20022
APH10011
APR10011
ARDR11021
ARK1021139
ARO10011
BANCA01010
BAT631105
BBK80088
BBO10011
BCH41510-1
BCN42713-3
BCO30033
BCPT20022
BELA10011
BIS40044
BITG20022
BLOCK01010
BLZ0011-1
BMH10011
BNB30251
BSM10011
BTC604490194-30
BTM10011
BTS30033
BTX10120
BZNT10011
CAZ30033
CEFS10011
CLOAK11021
CND20022
CNN11011210
COLX10011
CS20131
CTRL30033
CVC11021
CVS10011
CXO10120
DASH31043
DAXT10011
DBC11021
DBET10011
DC20022
DCR20022
DERO10011
DEV70077
DGB03030
DGD01010
DGPT10011
DIG10011
DIVX10011
DNR10011
DNT10011
DRGN70077
DRV10011
DTB10011
ECA10011
ECC10011
EDD10011
EDG30033
ELEC0112-1
ELF41054
ENG42282
ENJ20022
EOS956203
EQL20022
ESP30033
ESZ10011
ETC10120
ETH1572345-8
EVE30033
EVX11021
FLASH10011
FUEL10011
FUN30033
GAME11021
GAS10011
GBX20022
GIN30033
GTO01010
GVT80197
HEXX10011
HKN60066
HMQ10011
HOT30033
HPB20022
HTML10011
HXX41163
ICX32213531
IGNIS10011
INS10011
INXT30033
ION10011
IOST50164
IOTA11130
IPBC30033
IRD20022
JNT0011-1
KAZE20022
KIN31043
KLKS50055
KMD721106
KRL20022
LBC1023-1
LEND60066
LEV10011
LGD10011
LGO20022
LINDA40044
LINK10011
LNS10011
LOOM22260
LSK10011
LTC8102038-12
LUN40371
LUNES01010
LUX80088
LYM10011
MAN50164
MANA1225-1
MCO10011
MENLO10011
MONK10011
MSP10011
MTC20022
MTL1034-2
MWAT40153
NANO928191
NAV01010
NCASH01010
NEBL51065
NEO41510-1
NEXO10011
NLX80088
NLX10011
NTK10011
NULS11021
OCN46675939
OKB20022
OMG02020
ONT0011-1
OPC20022
OST11021
PAY0011-1
PCN30142
PHR50055
PIRL10011
PIVX21032
PIXV10011
POA20022
POE802106
POLY30033
POWR10120
PPT31043
PTOY10011
PURE20022
QASH20131
QSP40044
REN10011
REP10011
RLC60175
RPX20022
RTO30033
RVT01010
SAFEX10011
SALT11021
SC10011
SCT60066
SEND10011
SENT20022
SHIFT10011
SKY21032
SNAP0011-1
SNM10101110
SNT10011
SPHTX50055
SS14011513
STORM62195
STQ10011
STRAT511117-6
SUB20131
SWFTC40044
SWTFC10011
SYS10011
TAU0011-1
TEL50055
TFD10011
TKY20022
TNB10011
TOMO40153
TPAY20022
TRAC70295
TRX22342918
TUBE10011
UBQ10011
UBT20022
UKG10011
UP20022
UUU30033
VEN12111411
VIB21032
VIBE01010
VRC10011
WAN3047-1
WAVES11011210
WAX11130
WISH40044
WTC22042
XEM11130
XHV20022
XLM343100
XMR11021
XMY10011
XN30033
XPM0011-1
XRH13001313
XRP16142112
XSH10011
XSN10011
XTL20022
XVG837181
XWC10011
YCE20022
ZAP10011
ZCL20022
ZCO20022
ZEBI10011
ZEC1003137
ZIL12111411
ZPT30033
ZRX18710358

Methodology

Since mid-March, I’ve been scraping the social media accounts of 40 prominent crypto influencers and traders. I pull out any time they mention a specific currency or token, log whether they mention it in a positive or negative light and compile it in a database. Each week, I take a slice of that data and perform an analysis showing how different coins are performing, in hopes of pulling a signal out of what is a frenetic, noisy universe. 

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

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