Santiment Analysis of the top 10 cryptocurrencies:
Bitcoin (BTC) has a positive/negative ratio of 1.59 to 1 (bullish/bearish comments), with a noticeable increase in performance after the April halving. Etherium (ETH), whose price is supported by the approval of spot ETFs in the U.S., is posting a 2.16-to-1 result, reflecting investor optimism.
Binance Coin (BNB) with a ratio of 2.94 to 1 marked a rise in quotations above $630 for the first time in 3 months, however, the discussions of this cryptocurrency are not so large in social networks. As for Solana (SOL) with a 3.03 to 1 ratio, there is also still a high level of positive comments despite the disappointing price performance.
XRP Ledger (XRP) is not pleasing its investors with a performance of 1.62 to 1, while Dogecoin (DOGE) remains riding the wave of popularity among meme tokens with a result of 2.06 to 1.
Cardano (ADA) shows impressive figures of 3.42 to 1 and stands out among other altcoins, although the price of the digital asset remains low. On the contrary, Toncoin (TON) has the lowest ratio of 0.56 to 1 despite a 3x increase in market capitalization over the past 3 months. This could indicate possible profit taking by traders and further correction in the exchange rate. Shiba Inu (SHIB) continues to attract attention with a performance of 2.09 to 1.
Finally, Avalanche (AVAX) shows a high ratio of 2.22 to 1 despite traders' disappointments. According to experts, this data only emphasizes the importance of sentiment analysis to understand possible price movements in the cryptocurrency market.