Xapo president claims that 90% of cryptocurrencies will disappear

Ted Rogers, the president of Xapo – a Hong Kong-based company dealing with Bitcoin wallets – has claimed that a shocking portion of the cryptocurrencies currently listed will be wiped out.

Rogers believes that 90% of the tokens currently listed on CoinMarketCap are facing “extinction” if they are not the heavyweight cryptocurrency Bitcoin.

Rogers further stated that now, when the market is down, is a good time to invest in more Bitcoin before it starts peaking again.

In response, Erik Voorhees of Shapesift.io, a company which offers global trading in digital assets, suggested that perhaps the market movements have more to do with the “extinction”.

The idea of Bitcoin dominance – whereby Bitcoin holds more than 50% of the cryptocurrency market trading volume –  has been a topic that investors are not shy about. Tom Lee, CEO of Fundstrat, believes that Bitcoin dominance will make a huge improvement in the cryptocurrency space, saying that “Bitcoin is the best house in a tough neighborhood” and suggesting that investors should focus on the original cryptocurrency and ignore other altcoins.

At the time of writing, almost half of the 15 leading cryptocurrencies including Ripple, Cardano, IOTA, TRON, Dash, NEO, and NEM while Ethereum, Bitcoin Cash, Litecoin, and Monero have seen 80% or more dips.

Whether Bitcoin will naturally emerge as dominant over falling altcoins will be evident quickly within the market movers and we can only wait to see what will happen.

The post Xapo president claims that 90% of cryptocurrencies will disappear appeared first on Coin Insider.

Analysis: Sentiment on 13 coins that are fire right now

Is it finally safe to come out and play?

For the moment anyways, it appears $BTC is in some form of a sustained bull trend — though there’s no indication the broader bear market is over yet.

After a nearly two and a half month bleed, sentiment on Bitcoin finally broke out of a sustained downtrend, piercing a point in my analysis that hadn’t been touched in a long while.

Most of the 149 influencers and traders I follow for my analysis have remained positive on $BTC since it broke through the much vaunted $6,800 barrier last week. Few on that list believe this run signals we’re out of the monster bear market we’ve been gripped in since February, but this is the best we’ve seen sentiment on Bitcoin in quite a while.

The pattern suggests to me that we’re likely experiencing something more along the lines of April’s bull charge than a complete shift in the market. But hey, April was fun.

The Top Alts

Here are the 13 coins/tokens that scored above a 75 on my power rating scale, a weighted formula that takes into account sentiment, volume and unique influencer mentions.  I don’t include coins in my rankings if they have received less than 5 mentions or have been mentioned by less than 3 unique people.

You can always find methodology and a key to my charts at the bottom of my posts, or pinned to the top of my Twitter page @FOMOcryptoDojo.

13. $SCRL

12. $LBC

11. $NEO

10. $SC

9. $KLKS

8. $POE

7. $WAN

6. $ADA

5. $BWK

4. $ZEN

3. $MSP

2. $DOGE

1. $PHR

Coin Sentiment (of 100) Volume Influencers Power Rating
ADA 65 32 16 81
ARDR 43 13 7 66
AURA 56 27 5 73.25
BAT 55 16 9 73
BCH 10 17 12 51.5
BNB 59 11 11 74.5
WYS 92 8 2 80.75
AION 92 4 3 80.5
TUBE 86 4 4 79.75
BTC 34 755 100 67
BWK 77 11 5 81.5
DCR 6 9 5 45.75
DGB 55 22 12 74.25
DOGE 76 24 16 85.75
GIN 94 4 2 77.25
DRGN 15 6 6 49.25
ELF 6 6 3 40.75
ENG 42 7 3 59.25
NEXO 86 3 3 74.75
EOS 16 24 6 53.75
ETC 14 30 14 54.75
ETH 13 78 31 56
HKN 46 7 3 61.25
ICX 44 21 15 69.25
KLKS 76 13 3 78.25
MORE 97 2 2 72.75
ADH 77 6 2 72
EVE 76 6 2 71.5
KMD 59 5 4 68.5
IOTA 78 3 3 70.75
KRL 65 7 3 70.75
OMG 93 2 2 70.75
XTZ 78 3 3 70.75
LBC 78 6 3 76.75
LTC 14 33 17 55.75
MANA 58 15 7 74
MFT 32 22 6 61.5
MSP 93 5 4 85.5
PPI 87 2 2 67.75
NANO 36 8 4 59.25
SS 66 4 3 67.5
GVT 74 4 2 67.25
PASC 86 2 2 67.25
NEO 60 26 14 77.5
LOOM 65 4 3 67
PK 66 7 2 67
OCN 45 10 7 66.25
ALQO 78 3 2 66.5
ONT 13 7 4 47
PAY 46 5 4 62
PHR 92 22 5 90.75
POE 77 7 4 79
DASH 66 3 3 64.75
EXP 66 3 3 64.75
UBQ 62 5 2 63.5
CND 78 2 2 63.25
ZCL 66 4 2 63.25
ZLC 94 4 1 63.25
SC 66 13 9 78
GRV 97 3 1 62
SCRL 66 19 4 76.5
STRAT 56 16 7 73
TFD 14 13 7 51.5
TPAY 44 7 3 60.25
NCP 78 11 1 60.5
SALT 60 4 2 60.25
TRX 41 44 17 69.25
VEN 33 70 23 65.5
VIA 62 13 8 76
RLC 98 2 1 59.25
ATMI 63 3 2 59
ONION 63 3 2 59
IOST 57 4 2 58.75
ATMOS 95 2 1 57.75
BTG 58 3 2 56.5
WAN 62 30 17 79.25
WAVES 42 11 7 65
WTC 40 11 5 63
ELA 42 4 3 55.5
XZC 78 4 1 55.25
XBT 46 5 4 62
XLM 45 31 13 70.5
PURE 43 5 2 54
XLR 54 16 3 67.75
XG 34 4 4 53.75
PIRL 86 2 1 53.25
VET 62 12 1 53
POD 36 4 3 52.5
REP 40 3 3 51.75
XMR 33 5 5 56.5
XRP 10 87 34 54.5
TRBO 75 3 1 51
XMN 75 3 1 51
STR 46 3 2 50.5
TEL 33 6 2 50
ELIX 99 1 1 49.5
OPEN 99 1 1 49.5
XVG 44 13 9 67
BCN 98 1 1 49
LEX 98 1 1 49
BTS 34 3 3 48.75
NFLX 34 3 3 48.75
WPR 34 3 3 48.75
KEY 36 4 2 48.25
ZEC 12 8 5 48.25
BITG 95 1 1 47.5
DIG 40 3 2 47.5
LCS 95 1 1 47.5
MAN 95 1 1 47.5
POWR 40 3 2 47.5
XBY 95 1 1 47.5
XXX 95 1 1 47.5
GLD 46 2 2 47.25
PCN 46 2 2 47.25
SUMO 46 2 2 47.25
ZEN 94 5 3 83.75
DBIX 56 5 1 46.5
INN 66 3 1 46.5
LINK 56 5 1 46.5
SUN 93 1 1 46.5
CRAVE 60 4 1 46.25
ZIL 45 16 10 68.25
SCT 63 3 1 45
TX 63 3 1 45
CTS 57 4 1 44.75
MCO 34 3 2 44.5
ALTS 87 1 1 43.5
DLT 87 1 1 43.5
DNR 87 1 1 43.5
EUNO 87 1 1 43.5
LGO 87 1 1 43.5
MUE 87 1 1 43.5
RDD 87 1 1 43.5
XTO 87 1 1 43.5
ZPT 66 2 1 43.25
LSK 16 4 3 42.5
NPXS 58 3 1 42.5
LEND 36 2 2 42.25
SPD 36 2 2 42.25
ZRX 46 32 14 71
APD 60 2 1 40.25
CORN 60 2 1 40.25
LINDA 60 2 1 40.25
ANON 78 1 1 39
CAH 78 1 1 39
COV 78 1 1 39
DEV 78 1 1 39
ESZ 78 1 1 39
MTC 78 1 1 39
POLY 78 1 1 39
QSP 78 1 1 39
SEND 78 1 1 39
SLV 78 1 1 39
SOMA 78 1 1 39
SONM 78 1 1 39
SPO 78 1 1 39
SPY 78 1 1 39
ACED 36 8 1 38.75
HILL 46 3 1 36.5
MTL 16 3 2 35.5
BBP 36 4 1 34.25
SNM 8 4 2 34.25
ARK 4 3 3 33.75
SENT 7 4 2 33.75
XSN 12 3 2 33.5
MWAT 46 2 1 33.25
ADX 66 1 1 33
APH 66 1 1 33
CRB 66 1 1 33
FUN 66 1 1 33
GC_F 66 1 1 33
INF 66 1 1 33
OST 66 1 1 33
QWARK 66 1 1 33
RCN 66 1 1 33
THETA 66 1 1 33
TOMO 66 1 1 33
WINGS 66 1 1 33
XGS 66 1 1 33
BLZ 16 2 2 32.25
ENJ 16 2 2 32.25
LUX 16 2 2 32.25
PIVX 16 2 2 32.25
QTUM 16 2 2 32.25
STORM 16 2 2 32.25
BELA 36 2 1 28.25
BLOCK 8 2 2 28.25
ECC 36 2 1 28.25
INXT 36 2 1 28.25
LINX 36 2 1 28.25
DYN 15 6 1 27
JEW 11 8 1 26.25
WABI 3 2 2 25.75
NEBL 1 2 2 24.75
BTCC 46 1 1 23
CHAT 46 1 1 23
COSS 46 1 1 23
ETP 46 1 1 23
MBC 46 1 1 23
NAS 46 1 1 23
NIX 46 1 1 23
QKC 46 1 1 23
SPHTX 46 1 1 23
STEEM 46 1 1 23
TRAC 46 1 1 23
TRC 6 7 1 23
VEE 46 1 1 23
VNX 46 1 1 23
YCE 46 1 1 23
POLIS 11 4 1 21.75
STONE 11 4 1 21.75
XP 8 4 1 20.25
INS 16 2 1 18.25
XAU 16 2 1 18.25
AEG 6 3 1 16.5
BIS 12 2 1 16.25
NULS 8 2 1 14.25
SOAP 2 2 1 11.25
ACT 16 1 1 8
AMP 16 1 1 8
ARN 16 1 1 8
AST 16 1 1 8
BBO 16 1 1 8
BLK 16 1 1 8
BNT 16 1 1 8
DTB 16 1 1 8
DYOR 16 1 1 8
EDO 16 1 1 8
GNT 16 1 1 8
GS 16 1 1 8
IONC 16 1 1 8
KICK 16 1 1 8
MCM 16 1 1 8
MENLO 16 1 1 8
MNX 16 1 1 8
NCASH 16 1 1 8
NF 16 1 1 8
NIHL 16 1 1 8
NOS 16 1 1 8
PEX 16 1 1 8
PRL 16 1 1 8
QRL 16 1 1 8
RAIN 16 1 1 8
SAN 16 1 1 8
SNAP 16 1 1 8
TAL 16 1 1 8
TKS 16 1 1 8
UBIQ 16 1 1 8
VTHO 16 1 1 8
XCO 16 1 1 8
REQ 8 1 1 4
VEO 8 1 1 4
XYZ 8 1 1 4
DNT 4 1 1 2
GFY 4 1 1 2
KIN 4 1 1 2
VRC 4 1 1 2
GAME 3 1 1 1.5
XCP 3 1 1 1.5
NIO 2 1 1 1
XTL 1 1 1 0.5
BND 0 1 1 0
DJI 0 1 1 0
MTH 0 1 1 0
VRH 0 1 1 0
WAX 0 1 1 0

Methodology

Each week, I scrape the Twitter accounts of some of the crypto world’s favorite influencers, traders and TA folk. I run a sentiment analysis to see which coins they are mentioning positively, neutrally and which they are mentioning in a negative light.

I also take in data on unique influencers, retweets, favorites, volume and strength of feeling in sentiment.

I calculate power by through a weighted formula that takes into consideration volume, number of unique influencers and sentiment. The higher the score, the better, the lower the worse.

This isn’t financial advice, just my own way of trying to make sense of what’s out there. And as with most things, the more data I collect, hopefully, the more interesting it’ll be. This is a work in progress. Please leave suggestions on how to make it better. I imagine if I keep up with it, I’ll be able to expand a bunch of the analysis, but I wanted to start somewhere.

The post Analysis: Sentiment on 13 coins that are fire right now appeared first on Coin Insider.

Ranking the sentiment of the ‘Coinbase 5’ a week after the big announcement

It’s been a full week since Coinbase announced it was exploring adding five cryptocurrencies to its much sought after platform.

We’ve all had a chance to laugh, cry and dunk on Ripple supporters.

But I’ve been curious to see how sentiment would change for $ADA, $BAT, $XLM, $ZEC and $ZRX in the days following the announcement. Coinbase did not say it would add any or all of the coins, and even indicated it could add some in a limited capacity.

So I’ve collected a week’s worth of sentiment data on each from the now 149 crypto influencers and traders I track each week, in hopes of starting to separate the wheat from the chaff.

I was surprised by two things:

  1. That the results were not blisteringly positive across the board
  2. How frequently and quickly sentiment pushed negative for some of the coins.

Here are how each of the ‘Coinbase 5’ stack up, ranked from lowest average sentiment to highest.

5. $ZEC – Average Sentiment: -0.05

A lot of people who hold sway on social media do not like $ZEC. I’ve never quite understood why this is — I’m still relatively new to the space — but the announcement of its possible addition to Coinbase did not change this.  It was the only coin to average a net negative sentiment over the last week.

4. $XLM – Average Sentiment: +0.08

The distance between #4 and #3 is minimal, but $XLM was pretty slow out of the gate. Stellar Lumens had a big run in the last few days, though which helped it finish strong. It has good community support, but also has the highest available currency supply of any of the coins on this list by a country mile, which could limit its overall upside.

3. $ZRX – Average Sentiment: +0.083

People have been peddling $ZRX-to-Coinbase rumors for months now, so its no surprise to see it among the five possible additions. $ZRX has been one of the best performing coins of the year thus far, but it came in hot and may need a bit of cooling off before the price tries to push up again.

2. $ADA – Average Sentiment: +0.09

It’s no surprise to see $ADA near the top of the pile: It’s been one of the most hyped crypto products since its launch.  Coinbase clearly likes what they’re doing and, for now, it remains the most affordable offering on this list.  As of this writing, it was still trading 85 percent below its January highs, despite major gains on the week.

1. $BAT — Average Sentiment: +0.127

$BAT has taken the crypto world by storm in recent weeks and was one of the hottest coins on the market before the Coinbase announcement.  It’s had to slow its motors a bit since then, but has become the apple of the eye of many crypto traders in recent weeks. Getting added to Coinbase ain’t gonna hurt that.

Methodology

Each week, I scrape the Twitter accounts of some of the crypto world’s favorite influencers, traders and TA folk. I run a sentiment analysis to see which coins they are mentioning positively, neutrally and which they are mentioning in a negative light.

I also take in data on unique influencers, retweets, favorites, volume and strength of feeling in sentiment.

I calculate power by through a weighted formula that takes into consideration volume, number of unique influencers and sentiment. The higher the score, the better, the lower the worse.

This isn’t financial advice, just my own way of trying to make sense of what’s out there. And as with most things, the more data I collect, hopefully, the more interesting it’ll be. This is a work in progress. Please leave suggestions on how to make it better. I imagine if I keep up with it, I’ll be able to expand a bunch of the analysis, but I wanted to start somewhere.

The post Ranking the sentiment of the ‘Coinbase 5’ a week after the big announcement appeared first on Coin Insider.

Sentiment analysis: This week’s top performing coins

There remains a lot of electricity surrounding the alt market this week, but it seems like it’s buoyed by a sort of nervous energy as bullish momentum surrounding Bitcoin falters.

So let’s start there this week.

The relative stability surrounding Bitcoin has disappeared in recent days. After tickling $10,000 USD last week, sentiment around the crypto king has faltered, dropping 43 percent in just four days.

The erratic changes come after a month of relative stability, which buoyed the Alt markets.  The big shifts in sentiment are something to consider, because much of the market still moves with Bitcoin. When it broke down last night, for example, many altcoins lost all of their daily gains.

All that said, the 4o influencers and traders I follow remain bullish on several alt-coins.

If you’re new here, I scrape the social media of the aforementioned cohort of prominent crypto personalities and track when they mention individual coins. I mark down whether they mention them in a positive, neutral or negative light and gather a net score for each coin (+1 for positive, -1 for negative).

You can always find the full list of coins I’ve analyzed at the end of my posts.

Below are charts showing the 10 hottest coins in the last two weeks, and how they got there.

9. (tie) $WTC — +12

9. (tie) $VEN — +12

8.  $WAVES — +13

5. (tie) $ZIL — +14

5. (tie) $SENT — +14

5. (tie) $KMD — +14

4. $ADA — +16

3. $ZRX — +17

2. $OCN — +29

1. $ICX — +34

 

The data

As always, here is all of the data I collected for this piece.

// ]]>

The post Sentiment analysis: This week’s top performing coins appeared first on Coin Insider.