TRON, Litecoin, EOS – What sentiment scores don’t tell you

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Source: Unsplash

When it comes to understanding the altcoin ^[1] movement in an extremely bullish/bearish market, anyone’s guess is as good as it gets because it is extremely difficult to gauge the length of recovery/corrections. While the collective market is presently falling, a few altcoins have been seeing high sentiment scores of late.

In fact, according to a report shared by Sentifi.com with AMBCrypto, Tron topped last week’s sentiment charts with a score of 39 among the top five. Following TRX, EOS ^[2] and Litecoin filled the 2nd and 3rd spots with a score of 33 each.

Source: Sentifi

While the high sentiment scores are fine, we will analyze the market further to understand if these assets actually facilitated positive moves in the market over the past week.

Tron, EOS, Litecoin – The unlikely trinity?

Right off the bat, the biggest breaking news for EOS was ByBit finally launching spot trading pairs for the asset. The significance of this update is eye-catching, but it was the biggest one. For Litecoin, there were absolutely no updates on the development front but for Tron, the trend was a little different.

Source: Tron

Last week, Tron’s network registered a new all-time high in daily transactions. In fact, data from Tronscan.org suggested that the network had registered 9,278,050 transactions in a single day.

From a long-term perspective, the daily transaction count was observed to

TRON, Litecoin, EOS – What sentiment scores don’t tell you

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