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Crypto Gains Bullish Voices on Social Media: Santiment

News
Thu, 04/21/2022 - 09:20
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Yuri Molchan
People seem to be more excited about cryptocurrencies now across major social media platforms, including Twitter, Reddit, etc.
Crypto Gains Bullish Voices on Social Media: Santiment
Cover image via stock.adobe.com

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Popular Santiment data vendor has tweeted that users of various social media platforms are showing excitement about crypto. Meanwhile, Bitcoin and Ethereum are recovering, while the rest of the market remains in the red.

"Crypto is gaining some bullish voices again"

According to a tweet by Santiment, the word "pump" is currently dominating in public channels across various social media presently—on Reddit, Discord, Twitter and Telegram. Santiment analytics team believes that this FOMO ("fear of missing out") is not a big concern; however, they cannot see any signals of euphoria so far.

Related
Bitcoiners Have Low Financial Literacy: Research

Ethereum transactions in profit surge

As the market has gone from green to mostly red, Santiment has noticed that at the moment, roughly 3.05x ETH transactions are in profit compared to those that are being made at a loss.

Should this ratio hold at this level, this would be the highest profit taking since October 20—half a year ago—when Ethereum was trading at $4,054. At press time, ETH is demonstrating a mild price drop from the $3,160 zone to $3,102 but it has turned green, going up 0.08% now. Aside from ETH, among the other top 10 cryptos in the green are only BTC, Terra and Cardano.

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Image via CoinMarketCap

After touching $40,961 on April 20, today the global flagship cryptocurrency has recovered 2.47%, trading at $41,994 at press time.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.