When you access the Santiment Page on the Bitfinex platform, you will find various Santiment features available.
What are the Santiment Features on Bitfinex
The first widget you will see is an introduction to the token you are currently viewing. This widget includes icons with quick links to the token’s various online information, such as the official website, social media accounts, etc.
Another widget below shows the General Information of the token selected, including Market Cap, Price, Volume, Circulation, Total Supply, Token Ranking, etc.
Social Metrics widget shows mentions of the token from a variety of cryptocurrency communities, including 300+ crypto Telegram channels, 300+ subreddits, etc.
The Featured Crypto Metrics displays an overview of the most popular metrics. The details of these metrics can be found below in the Premium Chart Metrics section.
Premium Chart Metrics
Daily Active Addresses
The Daily Active Addresses (DAA) graph shows the number of unique network addresses involved in transactions on a certain date.
Simply put, DAA indicates the daily level of interaction with a certain token, both speculative and otherwise.
Developer Activity
Developer (or Github) activity aims to show a project’s investment in coding manpower over time. A developer’s time is a relatively expensive resource (especially in crypto), so high Developer Activity implies that:
- The project is serious about its business proposition;
- The project will likely ship new features in the future;
- It’s less likely that the project is an exit scam.
Santiment measures Developer Activity differently than most. Most data aggregators track the number of Github commits, an unfortunate solution that often returns skewed data. Santiment custom-built a more reliable approach – tracking the number of Github events each project generates. This method dramatically improves both the accuracy and serviceability of Github data.
At a bare minimum, Developer Activity is a strong indicator of the project’s invested effort and dedication over time. An elevated Developer Activity can also give clues to a possible upcoming announcement or feature release and may warrant keeping a close eye on the project in the near future.
Network Growth
Network Growth shows the number of new addresses created on a particular network daily. Essentially, this chart illustrates user adoption over time and can be used to identify when the project is gaining - or losing - traction.
Transaction Volume
Transaction Volume shows the aggregate amount of tokens across all transactions that happened on the network on a certain date. A spike in transaction volume either signals:
- large amount of tokens moving, or;
- large number of transactions occurring on a given day.
Token Age Consumed
Token Age Consumed shows the number of tokens changing addresses on a certain date, multiplied by the number of blocks created on the blockchain since they last moved. Spikes on the graph signal many tokens moving after being idle for a certain period of time.
Token Circulation
Token Circulation shows the number of unique active tokens that are being transacted each day. A spike in daily token circulation indicates an increased coin activity and likely means some previously idle tokens are starting to move.
Token Velocity
Token Velocity shows the average number of times that a token changes wallets each day. Simply put, a higher token velocity means that the same tokens are used in transactions more often within a set time frame.
Exchange Flow Balance
Exchange Flow Balance shows the combined values of tokens moving in and out of exchange wallets over time. If the value is positive on a certain date, more of the token entered the exchanges than left and vice versa.
Note: Keep in mind that this graph shows the combined values of coins moving and exiting exchange wallets. This could mean, theoretically, that if a large number of coins left Exchange A and entered Exchange B, that movement would not be represented on this particular graph as the two transactions would cancel each other out.
Percent of Token Supply on Exchanges
This graph shows the share (or %) of a token’s total supply located in exchange wallets over time. A spike in this graph indicates that more coins are being moved to exchanges and vice versa.
Daily Active Deposits
When you transfer coins to an exchange, two transactions occur:
- From the user wallet to a temporary wallet created by an exchange
- From the temporary wallet to the main exchange wallet
We call these temporary wallets deposits or deposit addresses.
All coins that enter exchange wallets go through deposit addresses first, making deposits a strong proxy for the overall level of speculative interest in a token.
Daily Active Deposits (DAD) shows the number of unique deposit addresses that have been active on a particular day.
MVRV Ratio
MVRV (Market Value - Realized Value) ratio shows the relation between a coin’s total market cap and its so-called ‘realised cap’. Realised Value presents the total acquisition cost of all tokens in circulating supply.
Let’s say there’s a wallet with 30 REP (Augur’s native coin). They came into this wallet in 3 different transactions:
- 10 REP was bought at $5
- 5 REP was bought at $15
- 15 REP was bought at $10
The realised value is found by calculating the acquisition cost of all REP located in a wallet. In this case, the realised value of the above REP tokens is (10∗5)+(5∗15)+(15∗10)=$275.
To get the average acquisition price of these 30 tokens, we just divide the realised value by the total number of tokens: $275/30 = $9.16. In other words, the wallet’s owner paid an average of $9.16 per REP.
If the current price of REP is less than $9.16, then the holder paid more for acquiring these assets than what they’re currently worth. If the current price of REP is >$9.16, the value of the tokens is now greater than what the holder originally paid for them.
Say the tokens currently cost $10 to buy. These 30 REP tokens are now worth $300 on the market; if the holder was to sell, he’d pocket a $25 ($300-$275) profit.
We can then compute this acquisition cost, or ‘realised value’ across the whole REP network. This number gives us an estimate of the total acquisition cost or the total amount of money the users of a network spent to acquire their tokens, and is called realised cap or realised value.
Relative Social Dominance
This chart shows the share (or %) of this coin’s mentions on crypto-related social media in a wider pool of 50+ of the most talked about projects online.
The results account for both the shorthand and the full name of the project and are gathered from a variety of sources, including:
- 300+ crypto telegram channels
- 300+ crypto subreddits
- 100s of crypto discord channels
- Private Trader Chats and much more
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