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Santiment Reveals Crypto Is Gaining Bullish Voices on Social Media

Users of numerous social media platforms are displaying excitement about cryptocurrency, according to popular data provider Santiment. Meanwhile, Bitcoin and Ethereum are gaining ground, while the rest of the market is still losing ground.

“Crypto is gaining a resurgence of bullish voices”

The word “pump” is currently dominating in public channels across several social media platforms, according to a tweet from Santiment, including Reddit, Discord, Twitter, and Telegram. Although the Santiment analytics team feels that FOMO (“fear of missing out”) is not a major worry, they have yet to detect any signs of euphoria.

Profitable Ethereum transactions are on the rise.

Santiment has found that as the market has gone from green to predominantly red. So, around 3.05x ETH transactions are profitable compared to those that are losing money.

If the current profit-taking ratio holds, it will be the biggest since October 20, 2015. That’s, when Ethereum was trading at $4,054. At the time of writing, ETH was showing a slight price decline from $3,160 to $3,102. However, it has since gone green and is now up 0.08 percent. Only BTC, Terra, and Cardano are among the top 10 cryptos in the green, aside from ETH.

SantimentImage via CoinMarketCap

The worldwide flagship cryptocurrency has rebounded 2.47 percent today, trading at $41,994 at press time, after touching $40,961 on April 20.

Related Posts – XRP Price Goes Up After Unexpected Reappearance On Coinbase

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.