At the time of writing, Coinmarketcap shows that the total market cap of the top 100 cryptocurrencies is at $309,997,070,376. That is absolutely astronomical for something Trump(POTUS) claims is based on thin air while referring to Bitcoin in one of his tweets. That hasn't seemed to deter anyone and as trends show, as bitcoin has been rallying lately and I bet early investors are smiling to the bank right now. However, the question to ask is, how can one track these trends and benefit from this knowledge? Well, that right there is a question I keep asking myself until I ran into this nifty tool on Stateofthedapps called Santiment
Santiment is an innovative, open source web-based software and platform created on the 4th of July 2017, where users can keep track of cryptocurrency related activities. Having a glossary of over 1200 assets and increasing, it is your one stop location for getting information regarding cryptocurrency and I thought I'd share why.
After a one hour long conversation with Max Bartel, one of the staff of the platform, I got an overview of what SANTIMENT has to offer and here's what you need to know;
The first step to using the platform(assuming you are new) is scheduling a walkthrough where you get to talk with one of the customer reps
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An email will be sent to you. You will then schedule the best time for your meeting.
e-mail confirmation
Here are some of the features you will encounter while using SANbase
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This is where you can find indepth information about the cryptocurrency of your choice. You can view data based on five metrics in four categories, viz; Financial that includes trading volumes and price, Develpment activity, Social that includes Twitter activity relating to the asset, social volume and dominance and finally, On-Chain information that includes Realised value to Market value index, Network growth, Token age consumed amongst other indices available.
Here you can keep track of the cryptocurrency of your choice, receiving email and notifications about trends and changes that relate to the token of your choice.
This is where users can share relevant information concerning cryptocurrency.
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All information posted there has to be vetted by the SANTIMENT team and some of it makes its way to Bitfinex, who are one of the partners of this project.
The last but not the least. This section holds some of the most important features of Santiment and they are Historical Balance, Social Trends and SANgraph.
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Using this feature, you can get specific information about any currency, asset or keyword of your choice and find out how the frequency or lack of mentioning effects the price trend of any crypto of your choice. For example, below is the relationship between the word "bullrun" and Bitcoin/USD over a given period
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This graph presented above relates social influence of the word "bullrun" to the price of BTC/USD.
SANgraphs: This is one of the most important features of the platform. You can use SANgraphs to take a deep dive into on-chain metrics, revealing behavior patterns all visualized against price. The SANgraph is a robust data base and dynamic system that incorporates virtually every known metric for analysis of trends related to price. Here's a couple of the metrics you find there.
screenshot from my profile
-You can use SANgraph free of charge for 2 weeks through a trial invitation link that you receive from Santiment reps. I was offered mine after the walkthrough.
SANsheet expresses information in discrete form on the google spreadsheet. Every information you can deduce from the graph and Sanbase can be expressed using this plugin
The Santiment API goes far beyond simple OHLCV, delivering terabytes of processed on-chain, social, github and fundamental data sets, many custom-built and unavailable anywhere else.
Platforms like Coinmarketcap and Coinbase pale in comparison to Santiment's data base. Santiment is a very elaborate platform with so many feature, this means that though the information gathered here for analysis is of high integrity, the platform is somewhat difficult to navigate through without a guide of some sort, thus necessitating the need for the walkthrough.
Something else I can point out is that the platform is tailored to suit those with experience in trading and finance, rather than a newbie in the business.
In Summary, it is a very decent data base for getting information if you are about to embark on any cryptocurrency related endeavour.
