Santiment: Investors Are Bullish On BTC, XRP & BNB, Bearish On DOT

According to crypto analytics firm Santiment, investors have become “optimistic” on Bitcoin (BTC), XRP (XRP) and Binance Coin (BNB).

Santiment analysis draws a timeline that from March 10th, crypto investors started to see upside potential for BTC, XRP and Binance Coin (BNB).

However, it seems that Polkadot (DOT) is getting a negative sentiment from investors.

“A comparison of crypto’s top assets by market cap reveals Bitcoin, XRP and Binance Coin are showing signs of traders expecting price rises.

Meanwhile, Polkadot is one of the few top caps where trader sentiment is more negative than usual.”

📊 A comparison of #crypto's top assets by market cap reveals #Bitcoin, #XRPNetwork, and #BinanceCoin are showing signs of traders expecting price rises. Meanwhile, #Polkadot is one of the few top caps where trader sentiment is more negative than usual. https://t.co/nlBy5q9oMz pic.twitter.com/9QgSI5oV2E

— Santiment (@santimentfeed) March 13, 2022

For the past 12 months, Ethereum (ETH) competitors Terra (LUNA) and Solana (SOL) have been taking away from Bitcoin, according to Santiment.

The two altcoins have exponentially grown in volume as both crypto assets registered all-time highs during the past 12 months.

“The past year has seen major changes in trading interest. It’s been well documented that LUNA and SOL have emerged into the top 10 market cap assets with very high volume. But this has come at the expense of BTC and ETH seeing their volume drop off.”

📊 The past year has seen major changes in trading interest. It's been well documented that $LUNA and $SOL have emerged into top 10 market cap assets with very high volume. But this has come at the expense of $BTC and $ETH seeing their volume drop off. https://t.co/3qVOY8y6qU pic.twitter.com/u1NuiEWhaB

— Santiment (@santimentfeed) March 14, 2022

Glassnode also reported an increase in the amount of BTC that’s being transferred to owners who are long-term holders.

“Illiquid BTC supply represents coins held in wallets with little to no history of spending. It is now 3.2x larger than liquid and highly liquid supply combined.”

The #Bitcoin Illiquid Supply Shock Ratio, first developed by @WClementeIII, has ticked significantly higher this week.

Illiquid $BTC supply represents coins held in wallets with little to no history of spending. It is now 3.2x larger than Liquid and Highly Liquid supply combined pic.twitter.com/N0xejizRDE

— glassnode (@glassnode) March 13, 2022

The Illiquid Supply Shock (ISS) Ratio is calculated as the ratio between Illiquid Supply, and the sum of Liquid and Highly Liquid Supply. This metric attempts to model the probability of a Supply Shock forming, whereby fewer coins are available relative to the current demand trend.