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Santiment, a leading crypto analytics firm, says one metric they track shows a bullish turn in the market based on past performance.
According to Santiment, Fear, Uncertainty and Doubt (FUD) have arrived. peak level This is dictated by the prevalence of negative crypto terms such as selling on some social media platforms.
Using a social dominance methodology, Santiment says that negativity in the cryptocurrency market has reached levels that have typically hit rock bottom.
Negativity is primarily associated with FTX implosion and arrest of the infamous founder Sam Bankman Freed question Financial stability of Binance, the world’s largest cryptocurrency exchange, according to analytics firm.
Federal Reserve Chairman Jerome Powell Continue Pushing the market down with his hawkish policies.
There are many dooms and dark clouds in crypto right now. Binance FUD, Jerome Powell hawkish, and ongoing [Sam Bankman-Fried] Trial Headlines Many Reasons Surrender Is Widespread Late In The Week. Historically, this uncertainty is the bottom signal. “
Santimento too appear Three altcoins show bullish sentiment with activity from once-dormant wallets.
Some altcoins have seen a significant increase in address activity, waking up dormant wallets to move funds. higher.
Santimento To tell Automatic Yield Farming Protocol Yearn.Finance (YFI) shows impressive network activity after a short period of depression.
As of this writing, YFI is trading at $5,626.
Decentralized financial project REN (Len) has not rebounded very strongly due to its complicated financial situation.
As of this writing, Ren is trading at $0.074.
Finally, Santiment is a decentralized crypto exchange Uniswap (uniNon-Fungible Tokens (NFTs) are showing strong growth in terms of network activity.
UNI had strong growth before the NFT Marketplace was announced. Still, we see strong growth compared to NFT-related pumps.
At the time of writing, UNI is trading at $5.35.
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