After a fairly bloody day for most of crypto, we're back with another daily crypto power ranking.
My power rankings work like this: I track 25 crypto influencers' social media postings and run a sentiment analysis on each. If they mention a coin in a positive light, that's +1. Negative gets a -1. Their power rating is positive minus negative. I also track neutral mentions, but don't yet use it in my formula.
Only four coins/tokens actually received more than one mention today, and the chart above shows all of them. $ZRX got a lot of plugs following the Coinbase ERC20 news, which spurred a big move amid speculation that it could find its way onto the crypto trading giant soon. $XVG was one of our darlings yesterday and followed up with a big move today in a bum market, which caught the attention of quite a few traders and influencers. $OST rounds out our slim pickings of good news with a power rating of +2.
$TRX also received several mentions, but it was a wash and the ever-popular coin ended up with a power rating of 0. While some remained bullish on Tron, others were worried that its recent downtrend after big moves last week could be prolonged. $BTC and $LTC both had rough days, and after a brief bounce, sentiment once again turned negative late in the day.
Quick note before we go any further. As today and many days before have shown us, when the majors go south, it's very hard for the Alt market to have an overall good day. From here on out, I'll be instituting a 10 point penalty to the overall Alt market ranking any day that the influencers I follow go negative on Bitcoin, Ethereum and Litecoin.
Today is one of those days. Still, the 25 crypto influencers I'm tracking (see end of post for full list) went pretty bullish on a number of Alt-coins today.
| Group | Positive | Neutral | Negative | Power |
|---|---|---|---|---|
| Alts | 26 | 2 | 5 | 11* |
| Major | 13 | 7 | 16 | -3 |
| All Coins | 39 | 9 | 21 | 8* |
As always, here is the full list of all the coins I tracked today.
| Coin | Positive | Neutral | Negative | Total | Power |
|---|---|---|---|---|---|
| ZRX | 6 | 0 | 2 | 8 | 4 |
| XVG | 4 | 0 | 1 | 5 | 3 |
| OST | 2 | 0 | 0 | 2 | 2 |
| TRAC | 1 | 0 | 0 | 1 | 1 |
| DOVU | 1 | 0 | 0 | 1 | 1 |
| WAN | 1 | 0 | 0 | 1 | 1 |
| SENT | 1 | 0 | 0 | 1 | 1 |
| IPBC | 1 | 0 | 0 | 1 | 1 |
| LUX | 1 | 0 | 0 | 1 | 1 |
| ARK | 1 | 0 | 0 | 1 | 1 |
| BLK | 1 | 0 | 0 | 1 | 1 |
| RVN | 1 | 0 | 0 | 1 | 1 |
| TRAC | 1 | 0 | 0 | 1 | 1 |
| PKB | 1 | 0 | 0 | 1 | 1 |
| SC | 1 | 0 | 0 | 1 | 1 |
| BAT | 1 | 0 | 0 | 1 | 1 |
| ETH | 1 | 0 | 0 | 1 | 1 |
| TRX | 1 | 0 | 1 | 2 | 0 |
| LBC | 0 | 1 | 0 | 1 | 0 |
| MTH | 0 | 1 | 0 | 1 | 0 |
| MAID | 0 | 0 | 1 | 1 | -1 |
| LTC | 3 | 1 | 4 | 8 | -1 |
| BTC | 9 | 6 | 12 | 27 | -3 |
The Influencers
Who am I?
I'm an investigative data journalist during the day, and I've been looking for a way to cut through the noise and get a true sense of what some of the biggest crypto influencers are pushing toward and pulling away from.
Using a pseudonym here because I can't post about this shit on my verified accounts. I've become mildly obsessed with crypto and its constant stream of data and needed an outlet. So here I am.
What is this?
Each week, I scrape the Twitter accounts of some of the crypto world's favorite influencers, traders and TA folk. I run a basic sentiment analysis to see which coins they are mentioning positively, in a neutral way and which they are mentioning in a negative light.
I calculate "power" simply by subtracting negative mentions from positive ones to give an aggregate score. The higher the score, the better, the lower the worse. For the daily rankings, I also create aggregate scores for the majors and the Alt markets. The Alts get a 10 point deduction any time the majors go below zero, since overall the Alt-market has a tough time staying above water when BTC is in a spiral.
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. Also, 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.