TRX, EOS, LTC: a trio without rivals? – Bitcoin magazine
Understanding the movement of altcoins in an extremely bullish / bearish market, any prediction is only a guess as it is difficult to estimate the recovery / correction time. While the overall market is currently falling, several Altcoins have so far achieved high sentiment values.
According to a report released by Sentifi.com, TRX topped last week’s sentiment chart with a score of 39 of the top 5 coins. EOS and LTC follow in 2nd and 3rd place with the same score of 33.
Assessment of the cryptocurrency sentiment score | Source: Sentifi
While a high sentiment score is good, the article will analyze the market in more depth to understand whether these assets have actually enabled the market to move positively over the past week.
TRX, EOS, LTC: a trio without rivals?
The hottest news for EOS is that ByBit has finally introduced spot trading pairs for the asset. The importance of this update is remarkable and also the largest update to date. There are absolutely no updates on the development front for LTC, but the trend is a little different for Tron.
Tron daily transaction count reaches new ATH | Source: Tron
Last week, Tron’s network hit a new all-time high (ATH) in terms of daily transaction figures. In fact, data from Tronscan.org shows the network recorded 9,278,050 transactions in just one day.
From a long-term perspective, the number of daily transactions has increased by 522% compared to the previous year. Therefore, the development aspect for Tron still has positive changes.
Volume: TRX (purple), LTC (red), EOS (yellow) | Source: Sanbase
Looking at the on-chain indicators, it becomes clear that the volumes of all three assets are far from their previous highs in 2021. This view is also shown in the daily price chart. At the time of writing, TRX is falling towards February price and EOS is on a similar path. In the end, LTC appears to be on the verge of eliminating all of its profits again in 2021.
TRX, EOS, and LTC Price Charts | Source: trade view
Even so, Tron and EOS have seen increased developer activity in the past few days. In contrast, LTC could not achieve the same step.
Development activity: EOS (purple), LTC (red), TRX (yellow) | Source: Sanbase
Overall, the problem remains that sentiment is a subjective indicator and can only be properly analyzed when other indicators are taken into account. Right now, TRX and EOS have somehow proven the basis for their top psychological rankings, but conversely, LTC cannot meet these metrics.
According to AMBCrypto