OVERVIEW

Stocktwits’ Sentiment Data Turning Up 🟢

A little green on the screen today is a nice little reprieve from the strong selling pressure we’ve seen. But it’s the Stocktwits Sentiment Data that might be the more important data to look at. 👩‍⚕️

Today’s Litepaper is very data-centric. In addition to highlighting some of the important Stocktwits Sentiment Data, we’ll look at some interesting on-chain data from the whole crypto market.

Here's how the market looked at the end of the trading day:  

HEATMAP
Total Crypto Market 🌡️

STOCKTWITS SENTIMENT DATA
Sentiment Shifting 🛝

Look at the Stocktwits Sentiment Data on any of the most active and trending cryptocurrencies, and you’ll notice a shift in today's scores—very similar to what we looked at with Monero ($XMR) in yesterday’s Litepaper. 🪐

For example, take a look at Cardano’s ($ADA) Sentiment and Message Volume data for today:

Compared to a month ago, the weekly and daily sentiment scores have turned bullish while prices have dropped - a sentiment divergence that some traders analysts look for as heads to probable changes in price action.

Now let’s look at Shiba Inu’s sentiment data:

$SHIB’s Sentiment score has spiked from 31 to 43, the Message Volume is relatively flat, and the participation ratio is still high. That essentially means the number of people talking and posting about SHIB is the same, but their individual number of conversations slipped a little. 🤔

STOCKTWITS SENTIMENT DATA
On-Chain Analytics 🧠

The top five cryptocurrencies in the money represent the percentage of hodlers in profit, while out of the money are those hodlers in the red.

The top five meme coins by whale ownership show the percentage of the supply owned by whales.

Centralized or Decentralized?

You might find the following lists interesting, especially regarding the most decentralized blockchains - one isn’t as decentralized as many thought.

STOCKTWITS “CHART ART”
Silver Shines Amid Commodity Comeback 🤩

If you liked the chart and commentary above, you’ll love our new “Chart Art” newsletter. We’ll deliver you the best trade ideas and analysis from the Stocktwits community every evening by 8 pm ET.

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• Receive a welcome email with a list of the top Stocktwits chartists to follow for real-time posts like this.

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RECAP
News In Three Sentences 📰

📈 Just Stake It: Crypto staking rewards now offer a staggering 450% higher returns than the dividends of S&P 500 companies, with the highest crypto staking reward rate reaching up to 84.19% per year. This remarkable disparity has caught the attention of institutional investors, prompting Grayscale Investments to launch a fund tailored for sophisticated clients to tap into income generated from staking cryptocurrency tokens. CoinTelegraph’s full story here.

🗳️ Cardano For Voting: The Cardano Foundation has been approached by several US states interested in developing blockchain-based voting systems to enhance transparency and accountability in elections. Frederik Gregaard, CEO of the Cardano Foundation, highlighted the challenges involved, especially in meeting the requested timeframes for implementing such solutions. DailyCoin has more.

🌐 DeFi’s ETF: CrowdSwap has introduced the first decentralized crypto exchange-traded fund (ETF), allowing investors to diversify their portfolios with a single crypto token investment. The Bull Run dETF comprises 10 major crypto assets, including Bitcoin and Ethereum, aiming to simplify and decentralize the investment process. More from CryptoNews.

🚀 Not A Startrek DS9 Wormhole: Wormhole's W token launched with an airdrop to more than 400,000 wallets, briefly reaching a $3 billion market cap before experiencing a price correction. As a cross-chain protocol, Wormhole facilitates the transfer of crypto coins and tokens across different blockchains, with the W token designed to boost community engagement and reward early users. From Decrypt.

💸 Wood On BTC: Cathie Wood attributes Bitcoin's recent surge to national currency devaluations in countries like Nigeria, Egypt, and Argentina, positioning it as an "insurance policy" against rogue regimes and poor fiscal policies. With Bitcoin reaching an all-time high of $73,800, Wood reiterates her ambitious $1.5 million price target, underscoring Bitcoin's role as a hedge against loss of purchasing power and wealth. More from CoinDesk.

Links That Don’t Suck 🔗

🐶Meme coins skyrocket with record-breaking Q1 returns: CoinGecko

😯 Vana launches Reddit Data DAO allowing users control over personal data

🥾 Chile Stands to lead Latin America for crypto regulation, even as it lags in adoption

🪖 Helldivers 2 honours the lives lost at Malevelon Creek with an official decree from the Super Earth president, plus a cool free cap

🐦 Bird flu has been detected at the largest chicken egg manufacturer in the U.S.

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