Apart from getting affected by the financial news and economic conditions, the price of any cryptocurrency gets affected by investors’ sentiments, such as FUD (fear, uncertainty, and doubt) or FOMO (fear of missing out). The presence of external factors, along with the underlying value of the asset, has an important bearing on the market value of the commodity.
Sometimes these factors discourage new players from investing in the cryptocurrency market and portray the crypto space as a high risk investment; however, it is a widely accepted proposition that one can make huge profits in the crypto industry if one invests money diligently after doing a proper market analysis and background research.
With the aim of helping investors in doing market analysis and background research with its analytical tools, Santiment has developed its financial market data and content platform for the crypto space. In this article, we review the features of this analytical platform, its native token, and a lot more.
What is Santiment?
Santiment is a platform that provides financial sector information and materials for the blockchain and cryptoasset industries.
Santiment presents a continuously updated database of cryptocurrency projects together with data feeds and content flows (particularly newswires). It helps crypto traders in making the best investment or trading decisions based on real-time data by using its comprehensive data analytical tools.
For hedge fund managers, individual investors, operators of cryptocurrency projects, and developers of NFTs, Santiment has created a platform to investigate crypto data intelligence tools since 2016.
Santiment predicts a prospective market cycle peak (the ideal time to sell) or possible market cycle bottom by integrating a coin’s social media activity, the transfer of coins into and out of active or important wallets, and many other indicators (the best time to enter a market).
Because of Santiment, any user can get access to sophisticated OnChain, social, and financial research. With just a few taps, interactive reports enable you to quickly explore crypto market data and observe representations. By developing a single center of vetted crypto-asset data, Santiment eliminates the issue of trade noise. This center will include the following:
- Expert-curated, crypto-content streams and newswires
- A filtered database of blockchain projects and analysis
- Market data feeds and signals for cryptocurrencies
New users will receive some of these materials, such as the curated database, without any charge. Santiment will enlist new traders into cryptocurrency in the most credible way possible while fostering long-term commitment by serving as the source of free objective knowledge.
Key Points on Santiment
- Santiment is an extensive market intelligence platform for digital currencies that puts a focus on precise and reliable data feeds, rapid signals, and customized market research.
- Santiment has built specific tools, signals, and techniques that enable people to identify, categorize, and react to changes in market conditions and aberrations by utilizing on-chain, social, development, and other information sources.
- The Santiment Network Token (SAN) is the Santiment network’s governance token. As of now, it is trading for $0.069259 with a 24-hour trading volume of $1,103.54.
- Santiment offers comprehensive market research and signals using its various tools, such as content features, Sanbase, data feeds, SanX, SanAPI, Sansheets, Insights, and a lot more.
The Santiment Project Team
A group of the most experienced and accomplished individuals in the cryptocurrency business make up the Santiment team. Co-founder and CEO Maksim Balashevich, who has been working with blockchain and Bitcoin since 2011, is currently in the lead.
Additionally, he previously launched two other prosperous startups: AdverIndex, a corporation that provides web advertising, and SocialDataHub, a tool for social media data analysis.
Santiment Platform Features
Given below, we have discussed some of the well-known features of Santiment, which make it a great tool for crypto analytics:
Sanbase
The primary blockchain-enabled online application of Santiment is, Sanbase, which is mobile-compatible. For the overall cryptocurrency market, it offers financial, technical, on-chain, socioeconomic, and data on far more than 1500 crypto assets spread across an increasing number of blockchains. Many of the data points are freely and anonymously accessible.
The main goal of Sanbase is to decentralize the process of getting high-quality information. The Sanbase application gives users access to real-time data on major changes in a coin’s activity levels. This information was collected by examining trending topics on social media for cryptocurrency and the actions of well-known wallets that store a coin to forecast possible outcomes (or when and how).
Sansheets
Sansheets is a Google Sheets plugin that allows you to access the platform’s data from your spreadsheet using easy functions. With Sansheets, you have access to a complete collection of cryptocurrency data available for model building and backtesting. There are no intermediaries and zero data aggregation.
It is the ideal approach to stay updated on everything crypto-related. With Sansheets, users can conveniently keep track of price swings, know about new coins, and choose whether coins are worthwhile investments. Santiment Sansheets is a crucial tool for anyone curious about cryptocurrencies, regardless of their level of experience.
SanAPI
SanAPI is the GraphQL API that drives Sanbase. Along with the API, it also provides data scientists who are experienced with Python with convenient access to the information through the Sanpy package. Exposure to all of Santiment’s data is made possible by the RESTful endpoints that make up the Santiment API.
Users can begin collecting social, market, and financial data for more than 800 cryptocurrencies by using API. Because the data from Santiment is provided via the API, building applications for this platform is simple for developers. Moreover, Santiment provides a variety of SDKs that make using the API much simpler. The Santiment API is user-friendly and thoroughly explained.
SanX
With the support of years of behavioral study and crypto-native measures, Santiment has now created its own index SanX. DeFi coins that are weighted by market cap are meant to be tracked by SANX Index.
The Santiment Oracle Network signals are used to determine which assets should be added and removed. It is a one-stop destination for cryptocurrency traders, providing tools to assist in smarter trading choices. SanX includes a number of features, such as:
- Crypto signals: Get instant updates on the best trading chances with cryptocurrency signals.
- Market Insights: Keep up with the latest trends with market research and insider knowledge.
- Technical analysis: Use cutting-edge charting tools to generate valuable insights.
SanR
SanR is an NFT sidechain built on Ethereum with bridges connecting it to and from the main Ethereum network. Each signal that is issued is saved as a non-fungible token (NFT), which is completely under the control and autonomy of the signal providers.
It also serves as a rebalancing tool that assists in retaining control over your portfolios. It analyses your holdings constantly and suggests the best coins for purchase or sale. You can keep track of your portfolios with live suggestions from Santiment SanR, receive notifications when a coin is overbought or oversold, and examine your portfolios with Santiment’s robust graphs and analytics.
Insights
A useful tool for understanding more about the present state of the cryptocurrency market is the Santiment Insights blog. The tool particularly allows you to look into whatever relevant the team feels about the blockchain industry.
The blog discusses a variety of subjects, including technical analysis, industry trends, and upcoming events. Santiment Insights is worth reading if you’re hoping for a competitive advantage in your trading or investing choices.
Unique Market Statistics and Variables
Along with the standard indications available in many chart platforms, Santiment offers unique indicators, such as volume, bollinger bands, relative strength index, etc. The network growth indicator and daily active addresses, which represent the entire number of distinct addresses used in everyday transactions, are two examples of the same.
Market Perspectives and Behavioral reports
This tool analyzes popular crypto discussions on several social media networks to forecast investor sentiment and, eventually, price direction. Consequently, it helps in putting you ahead of your peers. For instance, if a coin is followed by a bunch of terms like “purchase” and “when 500x.” It can be a signal that the coin has hit its peak and the market has surged.
What is Santiment Token?
The Santiment network’s governance token is called the Santiment Network Token (SAN). People get exposure to feeds of real-time statistics and can hold SAN to earn rewards. It is purportedly a Swiss coupon issued in accordance with FINMA guidelines. Users and exchanges can get feeds and information streams by staking SAN.
SAN tokens can be used for discounts (up to 20%) after enrolling in the Santiment plan in addition to being employed for staking. They are often given as awards to sheriffs, SanR officials, and hunters. At the time of writing, the price of the Santiment network token is $0.068 with a 24-hour trading volume of $1,103.54.
The token has increased by 2.90% in the last 24 hours. In terms of overall market capitalization, it is currently ranked at the 952nd spot, with a live market cap of $4,383,630. Crypto has a circulating supply of 63 million SAN coins, and its maximum supply information is not available. In the last seven days, the value of the Santiment Network Token has increased by 3.44%. The price dropped by 0.14% in the previous hour alone. Santiment Network Token is 99.15% less expensive than its all-time high of $8.14.
At the discretion of Santiment, SAN tokens can be held and locked to grant owners access to a constrained yet “free” flow of content and data feeds. Special stake options will be provided to exchanges, and asset networks, allowing them to distribute this stream of content and data feeds to their whole client base in addition to certain new information.
Santiment auctions can only be used with SAN tokens. These auctions offer the Santiment community extremely valuable raw datasets; crowd sentiment data feeds, and premium material. Auctions will be employed to restrict dissemination if the knowledge edge disappears as more people acquire exposure. The SAN token is non-refundable and final.
Is Santiment Network Token (SAN) a Good Crypto Investment?
Santiment Network Token (SAN) has a high-risk ranking, according to experts. Given the price fluctuation of SAN over the past 24 hours and variations in trading volume, a high-risk assessment is produced, providing investors cause to be cautious about the token’s current manipulability.
As assessed by the dollar amount of the Santiment Network Token that is traded, this implies that the value of the crypto can change rapidly with little trading activity. High-ranking cryptocurrencies may be the object of manipulation or simply have fluctuating values that significantly change over brief periods of time.
Nonetheless, given the strong utility of this token as a governance token of the Santiment platform, investors can make their investment in SAN from a long-term perspective as the buzz related to the platform will continue to grow in the upcoming times, which will eventually escalate the price of its native token.
Bottom Line
In 2016, Zurich, Switzerland-based Santiment, an extensive data analysis system, was developed. It offers a useful range of resources and services to aid traders in making the best trading decisions without being affected by sentiments.
The Sanbase Studio, which offers tools like Sanbase, SanR, Sansheets, Sanhunters, and SanAPI to provide comprehensive market-driven analysis in the cryptocurrency space, is the product’s most distinctive feature. Both the project’s community and development team are exceptional. The platform has received financing from other crypto ventures, including Iconomi.
Overall, Santiment is a great project all around. Notwithstanding the competition, Santiment’s distinctive qualities give it a great chance to coexist with some other comparable platforms. Another good trading signal environment that users might be interested in is Dash 2 Trade, which is now holding a presale for its native token, D2T.
