Top 5 cryptos by positive sentiment: Chiliz, Ethereum, BNB, NOT and TON
- Crypto trader sentiment is positive for Chiliz, Ethereum, Binance Coin, Notcoin and Toncoin, per data from Oriole Insights.
- Chiliz sees launch of new DEX, Binance comes back to India, and Ethereum appears on the list despite continued ETF outflows.
- NOT and TON hold steady above key support on Friday.
Chiliz (CHZ), Ethereum (ETH), Binance Coin (BNB), Notcoin (NOT), and Toncoin (TON) are the five cryptocurrencies with the most positive sentiment among crypto traders, according to data from Oriole Insights. Recent developments in some of these top five picks have likely fueled this positive sentiment, although some other tokens such as Ether make it to the top even though US-listed Exchange Traded Funds tracking the value of ETH are registering outflows.
Top 5 cryptos: CHZ, ETH, BNB, NOT and TON
Oriole Insights listed 15 projects by positive market sentiment in an X account on Friday:
Top 15 projects by positive market sentiment on @OrioleInsights
— CryptoDiffer - StandWithUkraine (@CryptoDiffer) August 16, 2024
Oriole Insights is a gamified prediction platform harnessing collective wisdom. The list of projects by Bullish expectations with a minimum of 50 predictions and 500 $ORI pooled.
https://t.co/efPnQPcel5$CHZ… pic.twitter.com/38nK1yBbKh
Chiliz, which tops the list, announced on Wednesday the launch of a Decentralized Exchange (DEX) on the Chiliz Chain. While the price of the token has failed to rebound following the news, the creation of the DEX could be the reason behind the positive market sentiment.
Speaking of DEX, ICYMI: @KAYEN_Protocol has landed on Chiliz Chain! https://t.co/IhfMGpOsxe
— Chiliz - The Sports Blockchain ⚽ (@Chiliz) August 14, 2024
Trader sentiment on Ether is also positive, Oriole Insights data shows, despite net negative outflows from the US-listed Spot Ethereum ETFs. Farside data shows $39.2 million in outflows, the largest volume since August 2, led by Greyscale ETF.
Ethereum ETF flows from Farside
As for BNB, which ranks third in the list, improved sentiment could be the result of Binance’s announcement on Thursday that it is returning to the Indian market after paying a $2.25 million fine, to serve nearly 100 million traders.. While Binance faces litigation in the US, this re-entry to the Indian market marks a regulatory milestone for the exchange.
NOT’s popularity among investors can be attributed to its recent announcement of “Lost Dog” game launch, NOT extended gains on Thursday. Data from CoinGecko shows NOT market capitalization has surged by $1.109 billion at the time of writing.
Binance listed TON in its launchpool on August 8, leading to hefty price gains for the Telegram-related token that have largely held up. TON trades at $6.466 on Friday, at the time of writing. Typically, an asset’s listing on Binance drives the price higher, labeled “the Binance effect.”
CHZ trades at $0.0533, Ether at $2,620, BNB at $522, NOT at $0.0108 and TON at $6.466 at the time of writing.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
