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Crypto analytics platform Santiment has warned that three crypto assets are witnessing a negative bias amid year-to-date poor price performance.
Santimento To tell Traders are starting to turn on smart contract-enabled blockchains: Cardano (ADA), Tron (TRX) and EOS (EOS).
Such a negative bias historically points to a possible near bottom, according to crypto analysis platforms.
Cardano, EOS, and Tron are three popular assets that once the trading crowd started turning on them. The price performance of these three companies in 2022 has been particularly rough, with capitulation prompting a price rebound soon. and may rewind them.”
In contrast to the smart contract-enabled blockchain prospects above, Santiment To tell Chainlink (LINK), a decentralized blockchain oracle, Polygon (MATIC), a layer-2 scaling solution, and Aave (AAVE), a decentralized finance (DeFi) platform, could have come out on top in the short term. .
However, Santiment says that Chainlink, Polygon, and Aave could continue their upward trajectory if Bitcoin (BTC)’s key support level of $20,000 holds.
Price gains early in the week have resulted in higher profit-taking levels for Chainlink, Polygon and Aave. Normally, these could be short-term top signals, but bitcoin remains stable above $20,000. If so, there may be room for growth.
Turning to Santiment, the second largest crypto asset by market capitalization, To tell Ethereum (ETH) supply on exchanges has dropped to levels last seen before the high level of uncertainty surrounding the move to a proof-of-stake model.
The amount of new Ethereum addresses created was about 70,000 per day, the highest since early August. ETH supply dropped to 14.6%.
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