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.
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.
How to Buy SAN – Complete Tutorial
One has to keep the SAN token in a MetaMask wallet or another wallet that is supported by MetaMask (such as Trezor or Ledger) in order to use it for the Santiment platform. Given below, we have talked about the four stages required to make it possible:
Step 1: Download and Set Up MetaMask
The first step in this entire process begins with the installation and setting up of MetaMask. To connect with the Santiment system and store SAN tokens, users will need an Ethereum address.
To achieve this, a new wallet can be made in MetaMask, an existing wallet can be imported, or MetaMask can be linked to a hardware wallet like a Ledger or Trezor.
Step 2: Put Funds in Your Metamask Wallet
To get SAN tokens in your wallet, users will be required to exchange them for ETH or another ERC20 token. To get ETH, you can buy it from a platforms such as eToro and then deposit it in your MetaMask wallet.
Step 3: Swap ETH with SAN Tokens
Now, you have to swap ETH or some other ERC20 token for SAN tokens, which could be done by using decentralized exchanges or decentralized exchanges aggregators. All of these work in a similar way, where you just need to connect with your MetaMask wallet first and then exchange ETH for SAN tokens.
At the time of writing, the SAN token is available on Uniswap and Bancor for the best rates. They can also be bought on Kyber through Kyber Swap, where users can get them even without having any crypto through their credit card.
To obtain SAN tokens, one can use a decentralized exchange aggregator such as ParaSwap.io or 1inch.exchange. You can occasionally find that using an aggregator result in a lower cost than utilizing an exchange directly.
Step 4: Start Using the Santiment Platform
Simply log in now using the MetaMask account that has the SAN tokens. On the other side, you can do this via the settings and link your Sanbase account to your Metamask wallet.
Depending on the number of tokens you own, the platform will recognize the SAN you are holding and provide you access to its offers.
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.
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.
To maintain the network’s health and ensure its continued growth, some acts will need to be paid for with SAN tokens. Post the Token issuance, SAN tokens held in the Reward Pool are granted, at Santiment’s sole discretion, to users that enhance the database’s information quality. Because there are no dividend or interest rights, the SAN token does not conform to the legal definition of a security. The opportunity to attend Santiment LLC general meetings is not granted by the SAN token, which is not a share.
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.
Santiment Price
The Santiment network token is now trading for $0.0693 with a 24-hour trading volume of $1,103.54. In the preceding hour alone, the price fell by 0.14%. Santiment Network Token is now priced 99.15% below its $8.14 all-time high. Nevertheless, the token has shown some momentum in its previous 24 hours as the token has climbed by 2.90%.
Source: Coinbase.com
The price of the Santiment Network Token has risen by 3.44% during the past seven days. It is presently ranked 952nd overall in terms of market value, with a live market cap of $4.3 million. The cryptocurrency has 63 million circulating SAN coins, and its maximum supply is not known.
Santiment Price Prediction
According to the forecast data research, the value of SAN is expected to surpass $0.15. Santiment Network Token is expected to achieve a minimum price of $0.15 by the end of next year. Additionally, the price of SAN can rise as high as $0.16. The Santiment Network Token Price Prediction 2023 is important info for investors and users of this platform.
Along similar lines, the value of SAN is projected to surpass the figure of $0.24 by 2024. Santiment Network Token is estimated to attain a minimum price of $0.20 by the end of that year. Moreover, the SAN price has a $0.25 maximum level that it can reach. Going by the given trend, the price of this token can cross the mark of $30 by the end of 2025 and $34 by the end of 2028.
Best Santiment Alternative
Dash 2 Trade is a new upcoming crypto analytics and intelligence platform that could potentially rival Santiment. Its native token, Dash 2 Trade (ticker symbol D2T) is also currently on presale, offering an investment opportunity.
Holders of D2T will be able to leverage the token for a subscription to Dash 2 Trade’s services, which includes in-depth analysis of new crypto presales, the hottest altcoins on any given day, social intelligence (similar to LunarCrush) and more.
Stage one of the Dash 2 Trade presale (pictured above) sold out within 72 hours, and the D2T presale is currently on stage two, having raised around $4.25 million at the time of writing.
Find the Dash 2 Trade whitepaper on dash2trade.com and join its Telegram community of 27,000 members here.
Dash 2 Trade is backed by Learn 2 Trade, a crypto signals and trading tips site with an existing community of 70,000 members, as well as venture capital investors.
When the presale concludes, Dash 2 Trade will be listed on both DEX and CEX platforms – and already has a confirmed listing on LBank, which will provide a higher trading volume and liquidity at launch.
Conclusion
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.
It is similar to Santiment in several ways, and D2T tokens will be used to funnel the project’s development and increase holders’ wealth. You can read more about the D2T project here.
FAQs
How Does Santiment Work?
You can browse a wide range of data hubs on the Santiment platform to obtain objective, accurate info. These hubs contain content that has been thoroughly examined by blockchain professionals utilizing only the most credible sources.
What are Santiment Content Streams?
Frequent, current market content, much like a newsletter, can be found in Santiment content streams. The content includes information on key coins and ICO analyses, as well as global rules and market analysis. You have a choice in what content you want to have access to as an investor.
What is Santiment Database (SANbase)?
A crowdsourced repository of cryptocurrency projects is called the SANbase. It covers crucial details of the project, including the history of the team and the coin's economics. Furthermore, the platform provides a number of tools to assist your research.
What are Data Feeds?
Sentiment data feeds, Blockchain data feeds, and Crowdsourced data feeds are the three types of market information that Santiment combines from many sources.
