Cryptocurrency trading is a complicated exercise. Both new and experienced traders seek ways to interpret the trends and make accurate decisions when predicting the market direction. There are various factors behind price movements, making it difficult for individuals using traditional market decisions to make correct decisions consistently.
To simplify the trading process, proper data study and analysis are required, with precision tools that are well-scrutinized. Such tools provide the necessary support that helps traders at any level to easily identify trading opportunities and enhance their profit-making abilities.
What is Santiment (SAN)?
Santiment is a market platform that offers data feeds and market content for members of its community. It also provides a regularly updated database of cryptocurrency projects. In all, it serves as a one-stop platform for traders and investors seeking up-to-date information and clarity in the market.
The network token, SAN, is used for subscription payment to have access to the data feed and other services on the platform. You can either use it for payment or participate in an auction to gain access. You can also stake SAN to access services and earn interest on your staked coins. Institutional partners have been noticed to stake large sums of SAN tokens to give access to their audience. Also, by contributing data to the Santiment network, users are rewarded with SAN tokens. It is the crowdsourced data that is used to power the network.
How does Santiment (SAN) work?
Data used for analysis on the Santiment network is crowdsourced from participants and verified by industry experts. The verification process is used to expose content providers with questionable intentions.
The market information received from numerous sources is combined into three data feeds – the Santiment data feeds, blockchain data feeds and the crowdsourced data feeds. These data feeds monitor and analyze community sentiment, and activity across blockchains, including the behavior of whales, and other social trends. All of these are combined to produce robust signals for bullseye market predictions.
Santiment (SAN) price prediction
As of the time of writing, the price of SAN was $0.0712. The short-term forecast expects this price to reach $0.0828 by November 25, 2022. This would represent a 14.78% price increase. For the long term, a conservative projection sets SAN targets at $ 0.196106 in 2023, $ 0.253173 in 2024, and $ 0.326846 in 2025.