- Crypto trader sentiment is most negative on Chainlink, Ethereum, Bitcoin, Solana, and XRP during the recent price slump.
- Assets with the most bearish crowd narratives historically have the best chance of recovery.
- On-chain data from Santiment marks 20 crypto assets where recovery is likely.
Crypto intelligence tracker Santiment tracks the narrative among traders to identify which assets have the best chance of recovery. Typically, the assets that crypto traders have the most negative sentiment towards, have the best chance of recovery.
Chainlink (LINK), Ethereum (ETH), Bitcoin (BTC), Solana (SOL), and XRP rank among the top five assets that noted the most negative sentiment among crypto traders.
These five assets could recover from the correction
Analysts at Santiment use weighted sentiment, a metric that combines the social volume of an asset (across X, Reddit, Telegram, 4Chan, and Bitcointalk) and multiplies by the ratio of positive vs. negative comments toward that asset to identify most negative and positive assets after the crypto slump.
Nearly 52% of crypto assets with a market capitalization above $1 billion have a more negative sentiment than their average rates, per on-chain data. Analysts listed 20 cryptocurrencies with the most negative sentiment in a tweet on X.
Chainlink, Ethereum, Bitcoin, Solana, and XRP are the assets the crowd has turned the most negative on during this mild crypto slump. Coins with the most bearish crowd narratives historically have the best chance of rising. Here are the 20 best candidates:
— Santiment (@santimentfeed) October 9, 2024
1) #Chainlink… pic.twitter.com/9NzhjE0F0Z
Top five cryptocurrencies with the most negative sentiment are:
LINK gains less than 1% on Thursday and trades at $10.62 at the time of writing. ETH, BTC, and SOL gain 1.22%, 0.80%, and 0.33%, respectively, on the day. XRP gains nearly 0.50% and trades at $0.5272.
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