A famous santiment data vendor has tweeted that users of various social media platforms are showing excitement about cryptocurrency. Although Bitcoin and Ethereum are recovering, the rest of the market remains in the red.
Read Also: Shiba Inu and Dogecoin Now Accepted by AMC’s Mobile App
“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.
Ethereum transactions in profit surge
As the market has gone from green to mostly red, Santiment has observed that at the time, almost 3.05x ETH transactions are in profit compared to those that are being made at a loss.
In case this ratio stands 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 the writer’s time, ETH is displaying a mild price drop from the $3,160 zone to $3,102 but it has turned green, going up to 0.08% now. Aside from ETH, among the other top 10 cryptos in the gree are only BTC, terra, and Cardano.
Read Also: Bitcoiners Have Low Financial Literacy As Stated By The Research Conducted
After touching $40,961 on April 20, the global flagship cryptocurrency has recovered 2.47%, trading at $41,994 at the writer’s time.