Crypto Market Sentiment Falls Again, Bitcoin & Chainlink Take Top Spots
Following two consecutive weeks of drops, the overall sentiment in the crypto market has continued to worsen this week. According to the market sentiment analysis service Omenics, the average 7-day sentiment score (sentscore) for the top 10 cryptocurrencies worsened from 5.06 last Monday to 4.9 today. Additionally, there are no coins in the positive zone.
Among the most notable movers from the top 10 list this week is ethereum (ETH), which saw its 7-day average sentscore fall by 0.5 points, from 5.7 last week to 5.2 today. Bitcoin (BTC), meanwhile, dropped by 0.3 points, from 5.9 last week to 5.6 today.
Out of the top 10 coins tracked, only XRP and chainlink (LINK) saw an improvement in their 7-day average sentscores. For XRP, the score improved marginally from 4.1 last week to 4.2 today, while LINK rose by 0.6 points, from 4.9 last week to a stronger score of 5.5.
Notably, LINK’s improvement in sentiment marked the biggest positive change among all of the top 10 coins. On the negative side, the stablecoin USD coin (USDC) saw the highest drop in its sentscore, of 0.6 points, from 5.8 last week to 5.2 today.
No coins from the top 10 are in the negative zone.
Sentiment change among the top 10 coins*:Interpreting the sentscore’s scale:- 0 to 2.5: very negative- 2 to 3.9: somewhat negative zone- 4 to 5.9: neutral zone- 6 to 7.49: somewhat positive zone- 7.5 to 10: very positive zone
Looking more closely at what has happened over the past 24 hours, we can see that the sentiment related to several major coins has improved over the past day. USDC came out as the winner of the list, having gone up 6.4%. XRP saw the highest fall in this time-frame, of 10.7%. Meanwhile, bitcoin's sentscore is sitting at 6.2, making it the only coin in
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