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