A major analytics firm says crypto trader sentiment surrounding Cardano (ADA) and Binance Coin (BNB) suggests that both assets could rise.
Santiment says the cryptocurrency community has bearish sentiments on both Ethereum (ETH) competitors compared to the bullish outlook on Ethereum (ETH) and payment network XRP.
“Crowd sentiment towards XRP and ETH is particularly euphoric as the cryptocurrency market capitalization has soared in an independent direction. , bearish sentiment projects perform better on average.”
ADA is trading at $0.311 at the time of writing. The eighth-largest crypto asset by market capitalization is down more than 6% over the past 24 hours.
BNB is trading at $272.49 at the time of writing. The 4th largest crypto asset by market capitalization is down more than 2% in the past day.
Santiment says the altcoin price rally that happened over the weekend ran counter to the expectations of the crowd, which the company said was a common occurrence.
“As we’ve seen time and time again, the market is moving in the direction of the crowd’s most unlikely expectations.”
Santiment also notes that crypto trading volume has reached its lowest level in over two years.
explain analytics company,
“There are two ways to look at cryptocurrency trading volumes at their lowest level in two and a half years.
Low resistance and selling wall, whales can easily push prices higher
Utility is limited due to low order book activity, which may limit the long-term bull run potential.
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