Ever since Bitcoin started trading at $0.08 per unit in July 2010, it has been controlled by market sentiment, FUD(Fear, Uncertainty, and Doubt), FOMO(Fear Of Missing Out), groundbreaking news, and personal sentiment.

These external factors, along with the sentient value of Bitcoin itself, have led to a rollercoaster of volatility over the years, not only for Bitcoin but for other cryptocurrencies as well. 

Many fear this volatility and refrain from investing in cryptocurrencies. They say they do not want to get burnt or ‘rekt’. There are others, though, who have decided to brave the storm and ride the roller coaster wherever it leads them. They are the courageous ones known, in other words, as crypto traders.

To make it easier for them to make intelligent decisions not swayed by emotions, these traders employ several analytical tools. With these tools, they can predict, to an extent, where the trade would take them. One of such tools is the Santiment website.

In this article, we will talk about the various features of the Santiment program and how it can be helpful to crypto traders. Let’s start.

Santiment is a comprehensive data analysis tool that aims to guide crypto traders into making the best trading decisions based on real-time data and not on emotions. 

It was developed in Switzerland by established professionals in the cryptocurrency world who saw the need for a guiding compass through the vast, turbulent sea of cryptocurrency trading. 

With this in mind, they developed Santiment to combine on-chain analytics with real-time data gotten from social media and general market sentiments. They aim to make Santiment the go-to tool for crypto-metric analysis.

Sentiment provides data in these three categories:

Santiment works by combining social media activities of a coin, movement of coins in and out of idle or significant wallets, and many other metrics to come up with a prediction of a potential market cycle top(the best time to exit a market) or potential market cycle bottom(the best time to enter a market).

Even though these metrics are usually accurate, they do not always come up correctly. After all, expert traders will agree that you can’t always know the market direction. Sometimes, even with the best analysis, the market seems to have a mind of its own and go against all perceivable logic. However, with Santiment, you have a better chance at predicting coin movements.

A coin is pumping and has attracted much social media attention. Now, you could be in one of two scenarios:

 1.) You have been holding the coin for some time and are already in profit, but you’re wondering if you should leave or ride it on, in case it blows up even further.

2.) You heard about the coin on social media and are now wondering if you should jump in and join the increasing horde of holders and hopefully make some significant gain as the coin goes mainstream.

What will you do? In such a case, you mustn’t make decisions based on emotions as they will likely betray you. It would help if you had an emotionless guide to assist you in coming to terms with reality and making logical decisions. 

That is where Santiment comes in. With its social data analysis, you can know when the coin’s social volume is at its peak, thereby signaling a possible top. 

Santiment is one-of-a-kind. It has several unique features thSat make it the preferred tool for traders and holders alike. Let me take you through some of those features:

As the name implies, Sanbase studio is a professional suite of unique analytical tools that push Santiment towards its goal of being the foremost cryptocurrency tracker. 

It also functions as a crowdsourced database for cryptocurrency projects where you can find information on a coin, such as the team behind it, its history, price analysis, etc.

Do you mind getting into some of the unique tools of the Sanbase Studio? Join me:

This tool provides real-time information about significant changes in a coin’s general activity.

This information is obtained from analyzing hot topics on crypto social media and activities of prominent wallets holding a coin to predict what may happen(or when and how).

Sansheets is an extension that can be added to your google sheets page to track and compute relevant cryptocurrency information automatically.

You simply add it to your Google sheets the same way you add extensions to the Google Chrome browser.

API stands for application programming interface. It’s a software messenger that enables developers to build upon already existing codes as they develop new applications

The SanAPI is an avenue for developers to interact with the Santiment code and develop a crypto-metric application that suits their needs.

This is one of the most exciting aspects of the Santiment ecosystem. It is a decentralized marketplace for cryptocurrency price signals in which users are encouraged to generate their own signals using the vast array of tools available to them in the Sanbase studio. 

Users are then ranked, based on how effective their signals were, in a leaderboard that’s updated weekly. The top ten users share a reward of 750 SANs(The top 5 get 100 SANs each while the next 5 get 50 SANs each).

You can also choose to follow the top traders on the leaderboard and copy their strategies if they decide to share.

The Sanhunter(or Santiment wallet hunter) program was introduced to further direct transparent, market-driven research to the crypto world. 

In this program, you can either be a hunter or a sheriff. Hunters are like the worker bees who scour the online world to find current market info and are rewarded for their efforts with SAN tokens

You can also be a Sheriff. To be a sheriff, you have to stake at least 50 SANs. Sheriffs have an added advantage as they get more rewards by voting on hunters’ proposals and inputting their own research ideas.

Read also:

With this tool, you can keep tabs on all your favorite cryptocurrencies. You can examine daily insights and weekly updates that are not general but personalized to your specific crypto interests.

Santiment has unique indicators apart from the usual indicators found in many chart systems(like Volume, Bollinger bands, relative strength index, etc.). 

Two examples are the daily active addresses(the total number of unique addresses involved in daily transactions) and the network growth indicator(which lists the number of new addresses created on the network each day).

This tool tracks hot crypto topics on various social media channels to predict market sentiment, and subsequently, the price direction. Therefore, it helps you to stay ahead of the market

For example, if there are many bullish words like ‘buy’, ‘moon’, ‘when 1000x’ around a coin. It may be a sign that the coin is overheated and a market top has been reached.

You can use the Santiment software to:

The Santiment Network Token(SAN) is the governance token of the Santiment network. Users can stake SAN to gain rewards as well as have access to streams of real-time analytics.

Apart from being used for staking, SAN tokens can also be used for discounts(up to 20%) when subscribing to the Santiment plan. They are also used as rewards for hunters, sheriffs, and SanR leaders.

As of writing, the SAN token traded at $0.2 with a market cap of over $13M. It can be bought on various exchanges like Uniswap, Bitfinex, HitBTC, among others.

Are you one of the brave ones mentioned earlier who has chosen to ride the storm of volatility of the crypto world? You will need a guide, an emotionless guide who makes decisions purely on logic and not sentiment. Santiment is that guide. Can it work for you? I hope this article has helped you find an answer to that.

Santiment is a comprehensive data analysis platform founded in Zurich, Switzerland, in 2016. It provides a valuable array of tools and services to help traders make the best trading decisions devoid of emotions.

Its most impressive feature is the Sanbase Studio which has features like Sanbase, SanR, Sansheets, Sanhunters, and SanAPI to encourage qualitative market-driven research in the crypto world. 

With $49 a month(or $44 if billed annually), you can have access to premium content on Santiment. The price can be further discounted by:

The Santiment network token(SAN) was launched through Initial Coin Offering(ICO) on July 4-5, 2017. It is currently trading at $0.2 on exchanges like HitBTC, Bitfinex, Uniswap, etc.

Among other things, the token can be used for:

The post Santiment Review [2022] – Onchain & Crypto Social Media Analysis Tool appeared first on CaptainAltcoin.

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