Santiment Community Insights
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XRP Army stays positive

No doubts ETH is the most trending word recently, and there's a great insight on it posted recently.

So I'll have a look at the second line of the words batch - XRP and its "army".
What's happening there and why it's trending.

1) First of all XRP's social volume is gobbling near the bottom.
2) Then an increased devactivity last month can be observed.
3) Percent of XRP coins active last year dropped significantly around the end of August when Ripple CEO addressed FUD in a tweetstorm:
4) Digging into news titles:
- XRP Fork Unlikely to Succeed, Ripple Continues to Face Angry Investors
- XRP heads lower after failed breakout
- XRP slides back to 25 cents, threatening further losses
It Only Takes $20,000 To Become a XRP One-Percenter

5) Crowd moods distribution:
- never buy xrp, its total supplies are so huge like scam
- buy eth bch instead of xrp
- Oh nooooo!!!! Xrp is Trash 😱
- nice entry on XRP here
- i stopped selling XRP
- time to BUY XRP
- something is strange now... xrp ready to boom soon?
- XRP = Sleeping GIANT 💪😎👍

To wrap up:

On one side XRP is nicely bottomed,
on the other - too many positive expectations might still resist upwards momentum.

Read our full analysis with charts & upvote/spread the love 👇
https://tinyurl.com/yxu5owph
📣 One of today's biggest stories on crypto social media, based on Santiment's data (https://tinyurl.com/y5tln7hv):
New SegWit milestone revives ancient Bitcoin drama

According to several reports, the number of Bitcoin transactions that utilize SegWit ( has recently crossed 50% for the first time.

Introduced to the Bitcoin network in 2017 via a soft-fork update, Segwit is an opt-in update to the Bitcoin protocol that implemented a hotfix to the infamous ‘transaction malleability’ bug as well as an increase in Bitcoin’s block sizes above 1mb.

The contentious block size increase is still a source of much community debate, often loud and seldom PG, as again proven by the reaction to this latest report.

Some in the cryptoverse - especially over at r/bitcoin - welcomed the news as much overdue, while roasting the assumed culprits for slow SegWit adoption, and advocating for broader wallet and exchange support for the newer transaction type.

That said, not everyone saw the news equally positive.

Over on r/cryptocurrency in particular, the crowd still seems to lean considerably anti-SegWit, as several members reacted by echoing the ‘forced update’ sentiment, which dates all the way back to the time of the fork.

Others have also pointed out that, despite community hopes, SegWit has not yet succeeded in increasing Bitcoin’s effective TPS, nor has it lowered BTC’s transaction fees to an ‘acceptable’ level for some:

For now, concerns about Bitcoin’s scalability continue to loom large, and with the recent report that Ethereum’s network is close to full, it seems we’re back to full-time scalability debates surrounding both of the biggest blockchains.

Just in time for Devcon!

Read our full analysis with charts & upvote/spread the love 👇
https://tinyurl.com/y2fwxqyp
📣 One of yesterday's biggest stories on crypto social media, based on Santiment's data (https://tinyurl.com/y5tln7hv):
DOCK's price action and a tale of two behaviours

What crazy 2 weeks it has been for DOCK with back to back weekly price action that saw the price go from 0.006219 USD (9th Sept) to $0.01322 USD (17th Sept), making a 112% gain and hitting the highest trading volume in 6 months.

While most (aka the Crowd) were caught off guard by this week's pump and probably bought the local tops over the weeks before, smart money knew exactly what to do.

Let's take look at how both market participants tackled the DOCK during this period.


Crowd behaviour - Network Growth
Network growth refers to brand new unique addresses that participated in DOCK transactions or to put it simply, new speculators entering the market (since trading remains the #1 usecase for most altcoins).

You'll notice that Network growth peaks right on the day a local top hits. Thereafter, price and Network growth tends to fall as no additional new speculators enter to prop up the price.


Crowd's reaction
- That dock wall is massive
- Who is buying dock
- dock dumped 50% from top and is still up 50% haha
- Why dock pumped so hard ?
- Just bought dock let’s go
- I sold dock to early 😱😱😱
- Dock next pump start It's time to buy low 140 Sell 175

"DOCK" mentions saw large spikes at local tops as the crowd wonders and shill in excitement before price eventually falls and followed by the amount of mentions. Notice how for the past 3 months, it wasn't until the price pumped in September that the crowd noticed DOCK.


Smart money behaviour - Top holders balance
Now let's take a look at what smart money does. For this example, I'll take a look at the Top 30 DOCK holders.

In the same period, they were accumulating. In fact, back in mid August, notice that Top 30 holders accumulated when DOCK price was cheap, social mentions were low, network growth was low! They then moved tokens out when price peaked.

But in September, something interesting happened. Top holders were accumulating DOCK even though price was rising. But why? They are smart money right? Why would they be buying at high prices? Well, only if they knew prices would go much higher than their entries.

Notice how they moved tokens out just before this week's huge pump? They knew sir, they certainly knew. Well played indeed.


Show me the smart money!
So who in the top 30 are responsible for such smart moves you ask? Well, look no further, we picked 3 smart money addresses for you to track below:

- 0x5758fdd4853d341c7c9fcc984dfe7fca2d3403fe
Accumulated 3.7M DOCK

- 0xb07c49b35d8476d1f02ec9aae6ee031c08219a58
Accumulated 3.6M DOCK

- 0xa6B78c4BA0D648473876f89B1D2C91e99822eDCd
Accumulated 2.1M DOCK

Want to keep an eye on smart money?

Tip: You can set up activity alerts for this (or any other) wallet on Sanbase: click on the addresses listed above and click on ‘Generate Signal’ below the address (you’ll need to log into Sanbase first). Choose the asset (in this case, DOCK), you want to track and select the ‘Above’ or ‘Below’ threshold that will trigger the alert as they add or remove DOCK from their wallet.

Read our full analysis with charts & upvote/spread the love 👇
https://tinyurl.com/y4hh3tgf
📣 One of yesterday's biggest stories on crypto social media, based on Santiment's data (https://tinyurl.com/y5tln7hv):
Ethereum on the rise

Ethereum performed nicely last week gaining around 20% in USD.

Observations:

1. This is the most continuous period of Ether dangling on top of trending words + increasing social volume trend. During last 3 months.

2. A relatively similar pattern of social dominance spike preceded a month of sideways.

3. A rapid growth of percent of ETH total supply in whales bags. Last time it happened a bit more slowly in March 2017

4. ETH Gas used reached its all time high.

5. News titles:

- A Major Bitcoin Competitor Just Had One Of Its Best Days Ever
- Ethereum Price Climbs Again, Bulls Likely Sighting $240
- Ethereum Uptrend Remains Strong as Bitcoin Falters
- Ethereum Price Flashing Bullish — Can ETH Trigger an Altcoin Revival?

6. Crowd moods:

- I am sure that ETH will go to 300-350 USD
- Eth moon ♥️
- ETH market cap will surpass BTC market cap in 2020
- lmao eth is fucking pumping
- ETH looks like it's about to pullback
- eth still gotta dump to me

Read our full analysis with charts & upvote/spread the love 👇
https://tinyurl.com/yyop9xnj
📣 One of yesterday's biggest stories on crypto social media, based on Santiment's data (https://tinyurl.com/y5tln7hv):
Bakkt? Rekkt!

Yes.
It finally happened.
Bakkt is live.

Bakkt is a bitcoin futures exchange and digital assets platform founded by the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE).

Bakkt first made headlines on August 3, 2018.

From day one, the highly-anticipated bitcoin-focused cryptocurrency exchange has been geared for the big leagues and catered to the institutional investors of the world.

Bakkt was expected to be an absolute game changer in the world of crypto. Some believed the launch of Bakkt’s crypto trading platform will kickstart the next bull run. Others believed the launch of Bakkt will have minimal impact on the community.

Pros and cons of Bakkt launch - https://bitcoinexchangeguide.com/cryptocurrency-news/exchanges/bakkt/

Getting back to the Bakkt social volume chart. What were the main spikes about?

The first one, in November 2018, happened when Bakkt has postponed it's launch for the first time. Of course the community tightly connected this with following BTC price tanking.

The second smaller one happened on an uptrend and was caused by Bakkt revealing details on it's planned products and custody.

Third one, this August: Bakkt confirms September launch date after getting green light from regulators.

And yesterday, whan Bakkt has officially launched we've seen the biggest crowd interest to this event with highest social volume.

Ok, now when it happened, what's going on with BTC price?

It doesn't care any more.

News titles:

- Bakkt Launch to Improve Trustworthiness of Crypto Markets
- Market Sinks Despite Bakkt Futures Launch
- Bears Eye $7.7K to Capitalize on Lukewarm Bakkt Debut
- Bakkt: Futures Can ‘Possibly’ Predict Halving Impact on Bitcoin Price
- Bakkt Flops on Its First Day with Embarrassing Trading Volume, but Bitcoin - Bull Brian Kelly Remains Positive About Its Long-Term Potential

Community talks:

- Bakkt was launched to dump not pump,the pump already happened from April to July 2019
- It looks like bakkt just came in time for wallstreet to short, just like when future was introduced in dec 2017
- Bakkt is a joke 🙈 Binance is the real ⚡️
- Bakkt? More like Rekkt
- bakkt is fakkd
- Game really has changed now thanks to bakkt

Read our full analysis with charts & upvote/spread the love 👇
https://tinyurl.com/y3l2rums
📣 One of today's biggest stories on crypto social media, based on Santiment's data (https://tinyurl.com/y5tln7hv):
Looks like Kik is no more.

In the midst of the company’s ongoing dispute with the SEC, Kik and Kin CEO Ted Livingston announced the termination of the messaging app which, according to some reports, attracted as many as 300 million users from the US.

In order to reduce their burn rate and continue to fight SEC, Kik will be shutting down and laying off around 100 employees, leaving behind ‘an elite 19 person team’ to work solely on KIN adoption and growth.

“We will focus on one thing: converting Kin users into Kin buyers”

The news quickly spread through the cryptoverse and beyond, with mainstream media including BBC, The Standard, Verge and others covering the messaging app’s downfall.

KIN coin has dropped by more than 23% in the hours following the announcement, hitting the all-time-low and arguably the lowest possible price of 1 Satoshi.

Rumours surrounding Kik have been floating around all day - some even published as facts. In particular, CoinDesk joined in on the FUD and released what it claimed were drunken comments by Kik’s CEO to one of their journalists, where Livingston vowed, among other things, that he's not “going to jail for this"

As it turns out, the message was a hoax by what some claim is a well-known troublemaker in the Kin community, prompting Coinbase to issue a retraction and their CEO to apologize to Livingston.

As expected, FUD ruled all Kin conversation on this day. For the most part, the crowd seems confident that shutting down Kik makes KIN obsolete in one fell swoop.

Remaining KIN supporters expressed great concern about the seriously diminished size of Kin’s development team. There were also those that lamented another perceived case of government overreach, as SEC effectively strong-armed Kik into shutting down.

Will this mark the end of Kin? Going off its current price action, development activity and general crowd sentiment, it sure doesn’t look pretty.

Hey - at least it can only go up from here...right?

Read our full analysis with charts & upvote/spread the love 👇https://tinyurl.com/yxt6n2lk
📣 One of yesterday's biggest stories on crypto social media, based on Santiment's data (https://tinyurl.com/y5tln7hv):
Binance went on a delisting spree, removing 30 trading pairs in total lately.

These are mostly trading pairs with stablecoins.
BTT/BTC pair as well.
Binance putting Tron’s Justin Sun, who is known for his marketing skills to shame.

The exchange cited that the reason behind the removal of the trading pairs was to enhance liquidity and user trading experience for other available trading pairs.

"Consolidating liquidity, not delisting." - Says CZ

I've created a watchlist with the above set of coins - https://app.santiment.net/assets/list?name=Binance%20delisting%20Sept19@834#shared

Observations.

1. It's total trading volume increased significantly, near +20%:
Can't say the same about marketcap.

2. Maximal volume increase happened on DENT, Pundi X and Waves.

3. Highest CMC rank of mentioned coins - DOGE, #28

4. NPXS showed significant network growth 2 days prior to delisting.

5. Many show spikes in both transaction volume and token velocity.

6. Looking from a bird's eye view there has been much more trendy "delistings" last year: much more buzz was around BSV delisting and relatively similar social volume for recent OKEX privacy coins delisting.

As a final shout out:

"Binance whats going on with the IEO's launched on binance, slowly they are moving to graveyard. Any hope we can see raise or you want me to be ready with flowers to RIP on this coins"

Read our full analysis with charts & upvote/spread the love 👇
https://tinyurl.com/yy2r3zzw
📣 One of yesterday's biggest stories on crypto social media, based on Santiment's data (https://tinyurl.com/y5tln7hv):
Coinbase Pro fee hike and traders are not happy about it

Coinbase Pro recently announced an update to their fee structure, making it one of the most expensive places to trade crypto.

Currently, traders dealing with $100,000 per month or less pay a maker fee of 0.15% and a taker fee of 0.25%. Here's the current fee structure: https://support.pro.coinbase.com/customer/en/portal/articles/2945310-fees

But from Monday onwards, there will be new tiers depending on the overall volume. For example, in the most basic tier ($0-10,000), maker fees are 0.50% and Taker fees are 0.5% - making it a significant increase and punishing for basic users.

Here's the full new fee structure come Monday: https://blog.coinbase.com/updates-to-coinbase-pro-fee-structure-b3d9ee586108

Putting things into perspective, here's a chart comparing the trading fees for major exchanges (lowest tier) by Larry Cermak: https://twitter.com/lawmaster/status/1179822103866089475

This makes HitBTC the exchange with lowest maker/taker fees currently. Binance comes in at 2nd while Coinbase Pro and Bitstamp have the highest trading fees.


Crowd's reaction
- More than double the previous fees. I've always loved coinbase but I'll be looking to trade elsewhere. These fees are high.
- apparently the bear turd markets arent working out well for them.
- Fuck this shit greedy assholes time to go to a new exchange
- Is binance jersey the only good fiat option in the UK?
- 0.075%....... coinbase is literally 8x binance.... It has no trading pairs comparatively speaking. I guess coinbase has Fiat pairs but honestly who cares, stablecoins.
- Go fuck yourself Coinbase. Give me back those sweet, sweet 0% maker fees at any tier of trading volume.
- This is a dick move for any non-serious traders with less than ~$10,000 to trade. Since the fee structure is last 30 days, once you get up to a certain tier (e.g. $100k+), it becomes easier to maintain that tier and keep the old fees. Just don't drop below $50k in trades, or you'll spend a small fortune.

Could this latest change help to drive more retail traders to Binance.us instead? It does appear that Coinbase Pro is more interested in serious money/institutional volume than the retail trader.

So where will you be trading at?

Read our full analysis with charts & upvote/spread the love 👇
https://tinyurl.com/y3lbounl
📣 One of yesterday's biggest stories on crypto social media, based on Santiment's data (https://tinyurl.com/y5tln7hv):
Chainlink - Did the crowd capitulate before the rally?
Following a major sell-off between 24rd September and 26th September, Chainlink went on a 2 week rally going from $1.66 USD to $2.55 USD - A brutal punishment for those that sold too early.


Social volume
While the price action did see an increase in social volume to 470 total mentions, it is still significantly lower than the peak of 3,565 total mentions on June 29th.

Crowd reactions
- here comes resistance, but you already know how stupid you are shorting at 2.50
- Are the team still selling ?
- shorting LINK is suicidal lmao
- Chainlink is a pnd scam
- Link leading alt season 🚀
- Whats news on chainlink
- I think people are waiting for Swift partnership announcement
- It’s called a dead cat bounce
- Nope still in bear market until we pass 3. Charts don’t lie

Reactions are a little mixed, although looking at the conversations, it does appear that people are more -cautious (less excitement than before) and in disbelief about the price action.


So, did the crowd capitulate during the sell-off?
The mixed emotions and disbelief observed above does make one wonder whether did the crowd sold too early? Let's take a look.

Exchange funds flow
Exchange flow did see spikes in net positive inflow to exchanges during that period and even recently, suggesting that people were looking to offload their stash. On September 24th, this inflow was followed by a downward price movement, no coincidence there.


Daily active deposits/withdrawals & volume
Huge spike in Daily Active deposits is observed with over 2,500 active deposit addresses receiving LINK, making it the all time high deposit address activity.

Compare this to the all time high withdrawal address activity back when the price was at its peak. It's starting to look like those that bought high then are selling low now.

Let's determine whether it's the same folks that bought at ATH price that capitulated. Looking at averaged token age consumed which is a metric that shows the average number of days that the tokens were idle before being moved on a certain date, it reveals that.....

On the day of ATH Deposit address activity, tokens spent on averaged 11.9 weeks before moving on that day. Which means tokens prior to this, tokens were last moved around... you guessed it, when the price was around its ATH price in late June.

How much did the crowd deposit during the sell-off? Zooming in, we can see 4M++ LINK tokens were transferred to exchanges on 24th Sep and other large deposits over the next few days.


Growth & HODLERS remain strong
Despite the massive fall in price and short-term crowd exodus, the amount of Chainlink holders continue to increase. Going from 44,000+ addresses at the price peak (late June) to 65,500+ addresses today.

The exodus of holders during the sell-off in late September can be observed in the dip in the graph below. This dip in holders is mainly from holders (few thousand addresses) that owns between 1,000 - 10,000 tokens.

Meanwhile, Top LINK holders continue to HODL for the most part, with a few of them adding on to their stacks in the past 28 days. Talk about strong hands!

Now that the short-term speculative crowd is gone, perhaps we might just see LINK resume its journey and continue to leave many in disbelief. That said, it's not immune to overbought conditions/corrections and macro factors along the way.

Read our full analysis with charts & upvote/spread the love 👇
https://tinyurl.com/y28sod3n