Speaker 1: Coin hasn't quite reacted to that stock market bounce the
Speaker 1: way we would hope they are up a little today.
Speaker 1: Bitcoin is and several old coins, but it's pretty modest.
Speaker 1: Has Bitcoin still sitting at around seventy seven K and
Speaker 1: was up to a little over eighty one K two
Speaker 1: weeks ago.
Speaker 2: Hey, everyone, welcome into the Thinking Crypto podcast. I'm your
Speaker 2: host Tony Edward, and joining me today is Brian from Sentiment,
Speaker 2: And as you all know, we're going to do a
Speaker 2: d dive into the metrics, the on chain metrics to
Speaker 2: get an idea what is going to happen next for
Speaker 2: bitcoin and all coins. Brian, great to see you. Good
Speaker 2: to see you, Tony. Always a pleasure, Yeah, Brian. You
Speaker 2: know we do these every two weeks. Going through the
Speaker 2: data is very fascinating and insightful, and you know, we
Speaker 2: usually like to kick it off with Bitcoin to get
Speaker 2: an idea of how the market's following bitcoin. So maybe
Speaker 2: we can start with that and some of the price
Speaker 2: action we're seeing overall.
Speaker 3: Yeah, Bitcoin Sentiment.
Speaker 1: If we take a look here, you can see the
Speaker 1: big dip here that happened during that kelp dou fiasco
Speaker 1: that's now can't believe it about a month old. But
Speaker 1: after that big dip that of course wasn't directly related
Speaker 1: to Bitcoin, nevertheless impacted people's trust for crypto as a whole.
Speaker 1: We saw Bitcoin climb back above eighty k, sentiment more
Speaker 1: than recovered, got super positive just a week later, and
Speaker 1: then has slightly shrunk ever since. The ratio between all
Speaker 1: the bullish comments versus all the bearish comments you're seeing
Speaker 1: across social media right now sits at about one point
Speaker 1: three to five to one, which is just slightly above average.
Speaker 1: So from a sentiment perspective, not really a big extreme
Speaker 1: in either direction. If anything, there's a very very slight
Speaker 1: fomocentric attitude from the crowd. Even though it slipped a
Speaker 1: little over the past few weeks.
Speaker 2: Yeah, to your point, Bitcoin it kind of hit a
Speaker 2: wall at around eighty two k, couldn't get over to
Speaker 2: two hundred day moving average, and it's been sliding since.
Speaker 2: But I think people are still a little bullish to
Speaker 2: your point, because it didn't drop significantly. You know, bigcoin
Speaker 2: went out to seventy six k, But if we were
Speaker 2: to crash below seventy k, maybe sentiment will you know,
Speaker 2: go down faight, Yeah.
Speaker 1: It's a very what have you done for me lately
Speaker 1: type of mindset with crypto traders, And understandably, it's a
Speaker 1: very fast moving market and people want to see results quickly.
Speaker 1: But you know, even just this signal from a couple
Speaker 1: days ago, this was Monday, once we saw that the
Speaker 1: ratio if you look at the top left of my
Speaker 1: screen there where the yellow little key shows point nine
Speaker 1: to eight, the ratio was showing that there were actually
Speaker 1: less bullish comments than bearish comments for the first time
Speaker 1: since about a month ago. That was the signal that
Speaker 1: we were probably bottoming out. And sure enough, the drop
Speaker 1: got halted right when this happened, and then after it halted,
Speaker 1: that's when things rebounded back again. So now the question
Speaker 1: is are we going to start seeing this level of
Speaker 1: euphoria again, which does tend.
Speaker 3: To cause tops as we saw here.
Speaker 1: Or are we going to just stay in the middle
Speaker 1: because nobody quite knows what to think at the moment.
Speaker 2: Yeah, great point. So I'm curious what the MVRV looks like.
Speaker 2: Is Bitcoin overheated? Is it's starting to cool down on
Speaker 2: the thirty day plus the long term one year of view, mm.
Speaker 1: Hmm, Yeah, so we'll zoom out to three months here,
Speaker 1: and we're going to look at the thirty day as
Speaker 1: well as the three sixty five day MVRV. From a
Speaker 1: thirty day perspective, it's still a slight bit overheated because
Speaker 1: obviously we've been on a heck of a run since
Speaker 1: the beginning of April.
Speaker 2: Here.
Speaker 3: Prices are overall up roughly.
Speaker 1: Call it seven teen sixteen percent or so since the
Speaker 1: beginning of April, and that's been enough to keep the
Speaker 1: thirty day average returns sitting at about plus five percent.
Speaker 1: So if you were to buy in now with the
Speaker 1: expectation of kind of short term results, you'd be doing
Speaker 1: so with a little more risk than usual. Even though yes,
Speaker 1: we've declined a bit over the last ten to eleven days,
Speaker 1: the thirty day perspective is still showing we're slightly at
Speaker 1: risk right now because of this long trend of I
Speaker 1: guess I should say the midterm trend of bullish momentum
Speaker 1: we've seen. But from a long term perspective, this blue
Speaker 1: line here is still good news because it shows the
Speaker 1: average traders still down about sixteen percent on average from
Speaker 1: all the wallets that we collect data on from anyone
Speaker 1: anyone that has moved money into last year, basically made
Speaker 1: any sort of transaction they're showing up here and averaging
Speaker 1: all those together, they're down sixteen percent, meaning you'd still
Speaker 1: be buying into a lot of blood in the streets
Speaker 1: if your goal is to buy and hold for a
Speaker 1: year or more, which I know a lot of people
Speaker 1: watching do exactly that.
Speaker 2: Yeah, and to your point, you know, we are technically
Speaker 2: in a bear market. Even though we've seen a bit
Speaker 2: of a rally, there's still the potential for another downward move.
Speaker 2: And again that's not guaranteed, but given the timeline of
Speaker 2: the Foyer cycles and how we've seen that play out,
Speaker 2: to your point, if you're buying now for the next
Speaker 2: year or two years, you're still in a good place.
Speaker 3: M hmm.
Speaker 1: Yeah, And you mentioned us being in a bear market.
Speaker 1: I think that's a fair argument. Everyone has their own definition,
Speaker 1: of course, as to what a bull versus bear market is,
Speaker 1: what time frame you should look at. But if we
Speaker 1: just simplify it and look from our all time high
Speaker 1: right now, from back on October fifth or sixth, depending
Speaker 1: on your time zone, bitcoins still down thirty eight percent
Speaker 1: from that from that peak when everyone was celebrating and
Speaker 1: breaking out the confetti over one hundred and twenty six
Speaker 1: k BTC.
Speaker 2: Yeah, yeah, definitely makes sense. I'm curious what the whales
Speaker 2: are doing because I've been looking at this chart on
Speaker 2: saniment over a few past few weeks and it's looking
Speaker 2: interesting with retail wallets seemingly dropping. But I wanted to
Speaker 2: go through this in detail with you.
Speaker 1: Yeah, you know, when we checked it out at the
Speaker 1: beginning of the month, it was looking good because we
Speaker 1: had seen retail these red and yellow lines up here,
Speaker 1: they were dropping off pretty rapidly for the first time
Speaker 1: in a long time. But then as of two weeks
Speaker 1: ago May sixth, they've started to accumulate pretty much as
Speaker 1: normal once again. While this green line, which represents the
Speaker 1: percentage of the overall sopply held by those key stakeholders
Speaker 1: ten to ten KBTC wallets that have a little over
Speaker 1: two thirds of all the supply, they're starting to drop
Speaker 1: off a little bit again, which is a concern. It
Speaker 1: means that this mild drop off we've seen over the
Speaker 1: past week is somewhat justified because the key stakeholders have
Speaker 1: been dumping, and if we look at it from the
Speaker 1: peak on April twenty fourth, call it four weeks ago.
Speaker 1: They've dumped since that time thirty eight and seventy bitcoin
Speaker 1: in total, which is about a quarter of a percentage
Speaker 1: of their overall holdings.
Speaker 2: Interesting if we go to a shorter timeframe, let's say
Speaker 2: the past month, But what does it look like, curious
Speaker 2: is kind of neck connecting.
Speaker 3: It gets a little flattened out.
Speaker 1: I mean, we if we won't have the time, we
Speaker 1: could just sort of straighten out the axes a little
Speaker 1: bit here point six eight. No, it's not gonna be
Speaker 1: worth it for the sake of this video, but yeah it.
Speaker 1: I mean, I like to look at it from the
Speaker 1: perspective of like three or six months, just because you
Speaker 1: can see the ebbs and flows.
Speaker 3: A little better.
Speaker 1: But nevertheless, if we zoom in a little bit, you
Speaker 1: can still kind of see, you know, the peak was
Speaker 1: back here April twenty fourth, and they're moving down, and
Speaker 1: you can kind of see on the top left of
Speaker 1: my screen the percentage differences in all of these different tiers.
Speaker 1: The green the blue is basically just the absolute holdings.
Speaker 1: The green is the percentage of supply for the key stakeholders,
Speaker 1: and then yellow is absolute holdings for the tiny retail
Speaker 1: while it's and red is their percentage of supply. So
Speaker 1: basically small retail is moving up and large key stakeholders
Speaker 1: are moving slightly down, which is not the ideal combo.
Speaker 1: That said, it's not like they're dumping massively the key stakeholders.
Speaker 1: It's all pretty relative compared to like February. If we
Speaker 1: go back three months, there's still that pretty significantly with
Speaker 1: those key stakeholders up about eighty one a little over
Speaker 1: eighty one k btc since that bottom where we were
Speaker 1: threatened to go below sixty k and people were really
Speaker 1: getting scared.
Speaker 2: Yeah, yeah, that definitely makes sense. So I guess we
Speaker 2: have to watch as closely to see what happens. And
Speaker 2: especially you know, there's a correlation with the stock market.
Speaker 2: We've seen crypto move with the stock market, and that's
Speaker 2: been correcting because it was overheated. So you wonder if
Speaker 2: you know, these whales and market makers are all looking
Speaker 2: at the larger markets. Okay, that's pulling back. It's going
Speaker 2: to create a barer sentimental Let's do the same on crypto, right.
Speaker 3: Yeah.
Speaker 1: Yeah, we can see that the S and P five
Speaker 1: hundred hit yet another all time high back on Thursday,
Speaker 1: May fourteenth, and then declined a bit. Since they're rebounding
Speaker 1: a bit today, Today's a pretty green day in the markets,
Speaker 1: which is something I think a lot of people were
Speaker 1: waiting on. I saw some retailers starting to get a
Speaker 1: little bit bit of doom and gloom toward equities, thinking
Speaker 1: that we were finally hitting the top and now we
Speaker 1: were going to fall back down. Well, at least for today,
Speaker 1: it looks like we're reversing course and moving back toward
Speaker 1: that all time high.
Speaker 3: Again.
Speaker 1: Coin hasn't quite reacted to that stock market bounce the
Speaker 1: way we would hope. They are up a little today.
Speaker 1: Bitcoin is and several old coins, but it's pretty modest,
Speaker 1: as Bitcoin still sitting at around seventy seven K and
Speaker 1: was up to a little over eighty one K two
Speaker 1: weeks ago. Meanwhile, gold is down still, even though I
Speaker 1: did see gold and silver having a pretty decent day today.
Speaker 1: So yes, I do think that Bitcoin and the S
Speaker 1: and P are still pretty correlated. If we just zoom
Speaker 1: out like two months for the past two months ago,
Speaker 1: you can see the correlation more clearly.
Speaker 3: With here.
Speaker 1: I'll just hide gold for a minute, kid, how Bitcoin
Speaker 1: and green here and the S and P five hundred
Speaker 1: and teal are pretty much matching neck and neck up
Speaker 1: until the end of last week, where Bitcoin nosedived a
Speaker 1: little over the weekend while the S and P was
Speaker 1: obviously not trading because it only trades on weekdays during
Speaker 1: a certain amount of time on the US schedule, and
Speaker 1: so this was kind of the difference. Bitcoin really dropped
Speaker 1: and all coins did too this past weekend, while the
Speaker 1: S and pstd put So there is an argument that
Speaker 1: Bitcoin can have some mild catch up to the S
Speaker 1: and P in order to justify that this correlation is
Speaker 1: still intact.
Speaker 2: Well, yeah, for sure. How about we look at all
Speaker 2: coins starting with Ethereum. I've seen a lot of bearish posts.
Speaker 2: People are a little bit down on Ether, which, you know,
Speaker 2: we look at the metrics and that might be good
Speaker 2: sentiments in the dump and it might be setting up
Speaker 2: for it to but who knows.
Speaker 1: Yeah, I've seen all sorts of stuff with tom Lee
Speaker 1: and vitallic and the Ethereum Foundation having a lot of
Speaker 1: uncertainty surrounding it. From an actual sentiment perspective, it does
Speaker 1: seem to match the narrative that a lot of us
Speaker 1: have seen on our timelines with a little more negativity
Speaker 1: than we've seen in a while. Every alt coin tends
Speaker 1: to run a little hotter than Bitcoin when it comes
Speaker 1: to what an average ratio of bullish versus bearish comments are,
Speaker 1: so right here it's shown about one point twenty nine
Speaker 1: to one in terms of positive versus native comments. That
Speaker 1: would be fine for Bitcoin, but for Ethereum it's definitely
Speaker 1: on the low side. I mean, if we just zoomed
Speaker 1: into the last month especially, you can see how drastic
Speaker 1: the difference is. It's just gradually faded for the last
Speaker 1: four weeks or zero, this yellow ratio. I mean, we
Speaker 1: were up at about two and a half to one here,
Speaker 1: and that obviously was a top signal. This would have
Speaker 1: been the perfect time to sell the most positive ratio
Speaker 1: over the past month.
Speaker 3: And then you see one more big.
Speaker 1: Positive bullish surge here, and that was your ideal time
Speaker 1: to sell one more mild bullish signal here, and then
Speaker 1: we drop again. So this has been a very good
Speaker 1: signal for Ethereum overall, and right now it's actually showing
Speaker 1: that people are leaning so negative that there's some justification
Speaker 1: for you to buy. While a lot of others are
Speaker 1: scoffing at the number two market gap at the moment.
Speaker 2: Yeah, and I wonder, you know, if bitcoin has a
Speaker 2: little bit more steam in it and it does a
Speaker 2: bit of a rally following the S and P five
Speaker 2: hundred and then NASDAC in a mini rally so to speak,
Speaker 2: not a major move. That once Bitcoin cools off rotational liquidity,
Speaker 2: then eat is so in the dumbs. Then it starts ripping,
Speaker 2: and then people fum all back into it, the same story,
Speaker 2: friend cycle, right exactly.
Speaker 1: Yeah, And I'm just checking out the ratio too, because
Speaker 1: we've got stats on just the ratio between any ald
Speaker 1: coin versus bitcoins price, and look at the last six months.
Speaker 1: I mean, man, that's pretty jarring looking at just like
Speaker 1: these five weeks here where the ratio between Ether and
Speaker 1: BTC is about negative thirteen and a half percent, while
Speaker 1: Bitcoin itself or ethereum itself is only down about ten
Speaker 1: ish percent. So yeah, it's just anytime Bitcoin retraces, ethereum
Speaker 1: seems to get hammered, like a lot of alt coins
Speaker 1: typically do. But ethereum usually holds its own a little
Speaker 1: better than this. So I'm curious what the MVRV looks like,
Speaker 1: because that's usually the other metric we can use to
Speaker 1: validate the sentiment, right, and is it where is it
Speaker 1: at as far as profitability, So, unlike Bitcoin, there is
Speaker 1: an opportunity on both the short and long term. Ethereum's
Speaker 1: mvrvs at negative six percent. You remember Bitcoin was at
Speaker 1: plus five, so that's a pretty drastic difference. And on
Speaker 1: top of that, the long term three sixty five day.
Speaker 3: Holders are down a little over.
Speaker 1: Negative twenty eight percent, or I should say under negative
Speaker 1: twenty eight percent. Both indicate that if you were to
Speaker 1: buy in now, whether it's on a short term time
Speaker 1: frame strategy or a long term time frame strategy, you'd
Speaker 1: be doing so with less risk than the average moment
Speaker 1: of investing in ethereum.
Speaker 2: Yeah. So obviously not financial advice, but this certainly looks good.
Speaker 2: I may want to, you know, add a little bit here, swing,
Speaker 2: trade some eat. Obviously I have a long term whole bag,
Speaker 2: but you know, this might be a good spot to
Speaker 2: grab some wait for it to market to rip then
Speaker 2: you know, as they say, buy to dipsel to rip.
Speaker 1: Yeah, I mean, if you want to just look at
Speaker 1: one soul metric on sand where you can just trust
Speaker 1: the math regardless of all the noise you're seeing, every
Speaker 1: day on social media. M VRV does stay pretty true
Speaker 1: if you just buy while others are in pain, especially
Speaker 1: when it's you know, both the short and long term
Speaker 1: are showing the same thing, like right here, both very
Speaker 1: negative ideal time to buy, both very positive ideal time
Speaker 1: to sell. Here again, both very positive ideal time to
Speaker 1: sell at least temporarily, but more often than not. You
Speaker 1: can trust these metrics, especially when they're both negative or
Speaker 1: both both positive. And this would be a pretty moderate,
Speaker 1: too strong bisignal if you just trust the zero sum
Speaker 1: game that is every cryptocurrency under the sun. Yeah, Plus
Speaker 1: you add the sentiment, which we just looked at, and
Speaker 1: you're building your case here right, you have multiple metrics
Speaker 1: screaming this thing is, this is a great opportunity to
Speaker 1: again and again not financial advice. You got to look
Speaker 1: at other factors as well, but certainly these are strong
Speaker 1: straw metrics.
Speaker 3: Great point.
Speaker 2: How about XRP, MVRV and sentiment.
Speaker 1: Yeah, it's pretty similar to ethereum. The long term is
Speaker 1: even more negative, meaning there's an even stronger justification for
Speaker 1: a long term buy negative thirty five and a half percent.
Speaker 1: That's it's been consistently around there for a little over
Speaker 1: three months now. Meanwhile, MVRV the thirty day MVRB has
Speaker 1: dipped back into negative range, sitting at about negative three percent.
Speaker 3: So again that golden rule, they're both below.
Speaker 1: Zero, meaning you'd be buying, whether you're doing short or
Speaker 1: long term trading at a at a less risky point
Speaker 1: than the average moment in xrp's eleven twelve year history.
Speaker 2: Now, yeah, I mean, wow, the long term is really underwater.
Speaker 1: Yeah, negative anything below negative thirty, no matter what outset
Speaker 1: you're looking at, that's something that should provide confidence in
Speaker 1: your investment because you're you're really you have something that
Speaker 1: quantifies how much blood in the streets there is, and
Speaker 1: you can buy knowing that your fellow peers that you're
Speaker 1: trading against, you're not on the same team just because
Speaker 1: they're investing in the same asset you're buying when those
Speaker 1: fellow peers have already experienced immense losses that you haven't
Speaker 1: because you'd be opening afresh a fresh new entry into XRP.
Speaker 1: So try to look at it from the perspective that
Speaker 1: you're trying to buy when others are low, and you're
Speaker 1: selling when others are high. Not just the price but
Speaker 1: how others are actually performing, And.
Speaker 2: I'm curious what the sentiment looks like if it matches,
Speaker 2: you know, kind of how Etherorem's sentiment matches the NBRB.
Speaker 1: It's been pretty up and down lately, a little more
Speaker 1: down than up, which is a good sign.
Speaker 3: Pretty similar to Etherium.
Speaker 1: It looks like a little below its average, which if
Speaker 1: I marked it would probably be around there. So one
Speaker 1: point seven bullish for every one bearish comment. It may
Speaker 1: sound high, but XRP historically runs close to like a
Speaker 1: two to one ratio on average, so considering it's still
Speaker 1: below that is a good sign. And it's been below
Speaker 1: that for at least the last outside of this one
Speaker 1: outlier on the fourteenth, which was when everything popped a lot,
Speaker 1: the past ten days, it's been consistently more negative than
Speaker 1: usual in terms of sentiment. Interesting, so pretty much it
Speaker 1: looks like majority these all coins are getting a lot
Speaker 1: of negative sentiment because they haven't performed as well. People
Speaker 1: were expecting a major rally following Bitcoin, but then Bitcoin
Speaker 1: gets rejected, and look, I'm not saying this whole rally
Speaker 1: is over, but still you can see why the crowd
Speaker 1: is not happy. Yeah, of course, so I mean, people
Speaker 1: just react to price sometimes regardless of what news is
Speaker 1: coming out, what integrations might be forming. You know, you
Speaker 1: had the rakutin partnership about a month maybe a little
Speaker 1: over a month ago now, and that caused a lot
Speaker 1: of hype. But it dies down if the price doesn't
Speaker 1: react to it. And it's just always been that way.
Speaker 1: And if we want to talk about one that has
Speaker 1: been getting a lot of positive attention right now, you
Speaker 1: and I talked before they called out hype Tony, and
Speaker 1: I think this is a really interesting graph right here.
Speaker 1: This is essentially the positive versus negative funding rates. So
Speaker 1: how much lungs are paying shorts or how much shorts
Speaker 1: are paying longs across all different exchanges and average together.
Speaker 1: And first and foremost, if you've been living under a
Speaker 1: rock just over the past week since May thirteenth up
Speaker 1: until now, hypes price is up about thirty five thirty
Speaker 1: six percent now, and you can see how much people
Speaker 1: did not believe in the first run and especially this
Speaker 1: second run. So all these red bars indicate that shorts
Speaker 1: were significantly outpacing longs according to perpetual perpetual contract funding rates.
Speaker 1: Talk about futures margin types of entries things like that.
Speaker 1: All of these big red bars indicate that people were
Speaker 1: betting against the price and then got super burned, especially
Speaker 1: on this final leg up that just happened in the
Speaker 1: past twenty four hours. Just if I just looked at yeah,
Speaker 1: a little under twenty four hours, called about twelve hours, Yeah,
Speaker 1: hyper liquids up another ten percent, which is massive for
Speaker 1: such a short.
Speaker 3: Amount of time.
Speaker 1: And so finally in the last call it six to
Speaker 1: eight hours, we see the funding rate kind of reset
Speaker 1: back to normal. But I wouldn't be surprised if the
Speaker 1: shorts start to pour in again, especially if it drops
Speaker 1: back below fifty, which was a big psychological support level
Speaker 1: for a lot of people. And then you've got another
Speaker 1: by signal that starts. Because funding rates kind of like
Speaker 1: sentiment and kind of like MVRV, they work as a
Speaker 1: great counter signal, especially when you see extremes like this,
Speaker 1: tons and tons of shorts and people trying to profit
Speaker 1: off of the price going down. That's usually your entry
Speaker 1: to buy, not investment advice. You need to do research
Speaker 1: on why people are shorting and white prices are going
Speaker 1: up and down, But trusting the metrics you tend to
Speaker 1: do pretty well. When you counter signal against the shorts
Speaker 1: or counter signal against the lungs, which I'm sure has
Speaker 1: happened before for hyper liquid as well.
Speaker 3: If we go, ah, well, we don't.
Speaker 1: It looks like we only have data for the last
Speaker 1: couple months for hyper liquid, But if I just showed Bitcoin,
Speaker 1: for example, these would be the moments right here where
Speaker 1: there's like super lungs and sure enough that ends up
Speaker 1: being the all time high and exactly where you want
Speaker 1: to sell, and then short's happened, that's where you want
Speaker 1: to buy.
Speaker 3: You get the idea.
Speaker 2: Yeah, very fascinating and hype to your point, performing incredibly well,
Speaker 2: and there's been a lot of news like ETFs being
Speaker 2: launched around it, so it's it's interesting, this is one
Speaker 2: that's been getting a lot of social media talk.
Speaker 1: And so yep, and we, of course we can quantify
Speaker 1: how much social media talk with our social dominance metric,
Speaker 1: which just looks at how much of the total pie
Speaker 1: of all the coin discussions happening on a daily basis
Speaker 1: are being dedicated.
Speaker 3: To hyper liquid.
Speaker 1: At about one point one percent of all discussions. Hyper
Speaker 1: liquid is seeing its highest social dominance of the year
Speaker 1: right now, and it's i think Tony almost certainly due
Speaker 1: to some of the ETF discussion combined with the price,
Speaker 1: and the price is reacting to all the ETF discussion,
Speaker 1: and I think most people attribute hype going above fifty
Speaker 1: being directly due to the ETF announcement. So these all
Speaker 1: kind of connect together, and you've got the biggest social
Speaker 1: dominance day since November fourteenth or so, about a six
Speaker 1: month high.
Speaker 3: Wow.
Speaker 2: I don't know, do you guys have MVRV setup as
Speaker 2: yet or is it a bit too early?
Speaker 1: We don't yet because hyper liquid isn't an ETH based token,
Speaker 1: but you know, obviously it being the tenth largest market
Speaker 1: cap in crypto, now, that's the kind of thing that's
Speaker 1: going to get our developers to give it some attention.
Speaker 1: So we can quickly get some some extended metrics and
Speaker 1: data points for such an important asset to so many
Speaker 1: people right now, kind of like what we did for
Speaker 1: Cardono and of course XRP, even though they aren't EATH
Speaker 1: based assets.
Speaker 2: Right. How about Solana sentiment?
Speaker 1: Good, good question, So I'll just use this same template.
Speaker 1: Funning rates kind of neutralized. Now, Look how many shorts
Speaker 1: there were though right at the bottom, just like hyper liquid,
Speaker 1: all these got liquidated when it was diving below eighty
Speaker 1: five bucks, and now it's at least back above. It
Speaker 1: got above eighty seven at one point, so funning rate
Speaker 1: continues to be a good signal. Solana's social dominance is also,
Speaker 1: interestingly at about a two week high or so, not
Speaker 1: as significant as hypes six month high, but nevertheless, Solana
Speaker 1: is getting talked about a lot, and its sentiment is
Speaker 1: pretty neutral. I don't see anything too out of the
Speaker 1: ordinary right now we go back in time, yeah, I mean,
Speaker 1: it used to get a lot more buzz here up
Speaker 1: until February started, and then its sentiment has stayed much
Speaker 1: lower ever since then. You'll notice it's still at about
Speaker 1: three point twenty nine positive comments for every one native comment.
Speaker 1: That sounds high, but for Solana, which gets dare I
Speaker 1: say shield so much on a daily basis, it's actually
Speaker 1: pretty rare for it to get below like a two
Speaker 1: and a half to one ratio, even though that would
Speaker 1: be amazing if it was Bitcoin or ethereum.
Speaker 2: So it's all relative, yeah for sure. And well, Brian,
Speaker 2: you know, hopefully the next time we're meeting in two weeks,
Speaker 2: you know, we are seeing a bigger rally for these
Speaker 2: assets and yeah, you know, we continue to go higher,
Speaker 2: but I like what I'm seeing. What you should it
Speaker 2: would eat an XRP with the mvrvs and the dumps,
Speaker 2: the sentiment and the dumps, so that I'm going to
Speaker 2: try to position myself again now financial advice is what
Speaker 2: I'm doing, Grab some of those coins to sell the
Speaker 2: rip once once they start moving up.
Speaker 3: Yeah, I think that makes sense.
Speaker 1: The big thing that we should continue to watch as
Speaker 1: bitcoins whales and they aren't painting.
Speaker 3: A wonderful picture right now.
Speaker 1: I'm not going to say that you should panic over
Speaker 1: their movement, but we just got to see a little
Speaker 1: more from them. And as soon as we do, all
Speaker 1: of these alt coins that you're interested in, for those watching,
Speaker 1: they're going to have their day. We just have to
Speaker 1: be patient and I can't wait to see if the
Speaker 1: beginning of June is that time when we meet again.
Speaker 2: Tony absolutely and Brian. Of course, folks can go access
Speaker 2: these metrics and they can go through a thirty day
Speaker 2: trial if I'm not mistaken.
Speaker 1: Two weeks, yeah, two weeks for free, and then if
Speaker 1: you decide you like it, enter thinking Crypto as your
Speaker 1: discount coupon you got twenty five percent off of whatever
Speaker 1: length of time you want to be a sentiment member
Speaker 1: with our awesome community.
Speaker 2: Awesome so folks. Links will be in the description. Go
Speaker 2: check it out, play around with the metrics. It's really insightful.
Speaker 2: As mentioned earlier, I used them on a day to
Speaker 2: day basis, looking at different factors, social trends and all
Speaker 2: these things. It's really really great. But Brian, thank you
Speaker 2: so much and see you in a couple of weeks.
Speaker 3: Thanks Tony,