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May 19

Ethereum's Bullish and Bearish Cases - Back Above $3,500 We Go, or Time to Profit Take While We Have the Chance?
19-05-21, 02:02

The best leading fundamental metrics Santiment has to offer are making compelling cases for where Ethereum is heading next. Despite the retrace this week, crypto's 2nd largest asset is still +570% in the last 6 months. It's time we dig into whether things can continue, or we're finally cooling off:


Bullish Signs


NVT

Our NVT model shows we're back in green territory, with plenty of token circulation happening at this market cap.



Supply on Exchanges

Ethereum's supply on exchanges continues moving down.



Neutral Signs


Active Addresses vs. Deposits

Active addresses and active deposits are pretty much both staying in unison, with a slightly concerning slide happening.



Average Fees

Average fees have come back to earth, but remain high compared to where they were at the turn of the year.




Bearish Signs


MVRV

MVRV is still abnormally high, as average trader returns need to cool down to reduce risk of entering at this position.



Weighted Sentiment

Weighted social sentiment continues indicating positivity from the crowd.

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May 18

May 13

Perpetual Contract Funding Rates Revealing Uncertain Future
13-05-21, 08:19

The BitMEX Perpetual Contract Funding Rate is an important way to gauge whether the crowd on one of crypto's top exchanges, is getting overly greedy or fearful.


The metric is defined on our Santiment Academy as a fee paid by one side of the perpetual contract to the other. When the funding rate is positive, Longs pay Shorts. When the funding rate is negative, Shorts pay Longs.


So in essence, as traders, we're looking for high funding rates (greed) to be indicative of a potential upcoming top, and low funding rates to indicate a potential bottom (fear).


Bitcoin

0.01% funding rate is low for Bitcoin, and slightly bullish while down at this level.



Ethereum

0.08% funding rate is average for Ethereum.



XRP

XRP's funding rate is quite high at 0.15%. Somewhat bearish.




Litecoin

Litecoin's funding rate is mildly above average at 0.09%. Just slightly bearish.



Chainlink

Chainlink is average at 0.08%.



Bitcoin Cash

Bitcoin Cash is above average at 0.11%. Slightly bearish.

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Apr 27

Five Fundamentally Sound Altcoins Based on High Address Activity, Low Deposit Levels
27-04-21, 06:40


We love to look at different ways to gauge which assets may be under the radar and ready to pump. At the time of this writing, altcoins are pumping hard against Bitcoin once again, just a few days after a market-wide dump that saw retracements all over the map.


For this list, we've put together five charts that show a rising gap between overall daily address activity (high orange lines are generally a good sign), and daily active deposits (low pink lines are generally a good sign).


Ethereum ($ETH) - #2 Market Cap Asset


Maker ($MKR) - #35 Market Cap Asset


Enjin Coin ($ENJ) - #57 Market Cap Asset


Decentraland ($MANA) - #59 Market Cap Asset


Basic Attention Token ($BAT) - #66 Market Cap Asset

Apr 22