The unpredictable twists and turns of the crypto market can make you feel like you’re riding a rollercoaster, even for experienced traders like us. Although the potential profits associated with this relatively new asset are enticing, sifting through endless reams of data and conflicting opinions can be daunting.
Crypto data shifts quicker than possibly any other asset class, and the technical analyses associated with traditional investing often fall short in the crypto market. Santiment is a platform that claims to revolutionize crypto analysis by harnessing the power of on-chain, social, and developmental data. But does it live up to that claim?
In this article, we’ll take a closer look at Santiment’s key features, assess their strengths and limitations, and explore how they can be integrated into your crypto investment strategy. We’ll examine the data sources, evaluate the accuracy and timeliness of the metrics, and discuss the practical applications of the various tools, allowing you to decide if Santiment fits your needs.
Where Does Santiment Get Its Data?
Founded in 2016, Santiment has a diverse range of data sources, giving you a comprehensive view of the crypto landscape. The data includes on-chain metrics such as transaction volumes and active addresses, social sentiment analysis, and developmental data tracking project activity.
Uniquely, the platform blends machine learning with human knowledge to analyze raw data, both quantitatively and qualitatively. This approach, combined with multiple data sources, gives you an excellent overview of market trends, investor behavior, and other fundamentals.
On-chain data
Santiment’s on-chain data gives you a granular look into the inner workings of blockchain networks, allowing you to examine the behavior of other traders. Visible metrics include transaction volumes, active addresses, exchange inflows and outflows, and whale activity. Tracking these on-chain movements allows the platform to give you insight into network health, investor sentiment, and potential market shifts.
For example, spikes in transaction volumes could indicate positive investor sentiment about a token, while changes in active addresses might suggest growing or waning interest in a particular asset. Monitoring exchange flows could warn you of buying or selling pressure, and tracking whale activity may show how they could influence prices.
While Santiment’s on-chain data is a valuable tool, it’s just one piece of the puzzle. Before investing, seek out other analyses, like those below.
Social data
The platform’s social data comes from monitoring discussions across several platforms to capture the sentiment of the crypto community. It tracks mentions, analyzes social media posts, and identifies emerging trends. By aggregating and analyzing this data, Santiment can identify FOMO (fear of missing out) or FUD (fear, uncertainty, and doubt), both of which can impact prices.
However, while Santiment’s social metrics can offer valuable insights into market psychology, social data needs to be treated with caution. Online sentiment is as or more volatile than the market itself and can easily be manipulated.
Developmental data
Santiment’s developmental data tracks aspects of crypto projects as they develop, assessing their viability. Among other activities, the platform monitors GitHub commits and code updates and reports on the development team, the project’s innovation, and its progress toward a reported goal.
For investors with a long-term outlook on crypto, this data could be invaluable. Generally speaking, an active project that’s consistently developing is a better bet than one with stagnant or declining activity; however, there have been exceptions.
By its nature, interpreting data is subjective, and developmental data is no different. With any data string, seek other sources before making an investment decision.
How Does Santiment Aggregate Its Data?
As with any investment analysis, data is only as good as its source. The platform’s data aggregation process involves the following:
Proprietary algorithms: Santiment’s algorithms crawl and analyze blockchain data, social media feeds, news outlets, and other relevant sources.
Human expertise: The platform has a team of experienced analysts who qualitatively analyze and interpret raw data.
Partnered data: Santiment’s partners are established data providers from across and outside the industry.
From the above, Santiment presents the data in the following ways:
Datasets: Raw and processed data
Screeners: Tools to filter and identify assets
Watchlists: Personalized lists for tracking assets
Alerts: Notifications for price changes, social trends, or other events
Flexible chart layouts: Customizable data visualizations
Dashboards: Curated views for tracking key metrics and trends
Community insights: Discussions and analyses from fellow users
Analytics team insights: Expert commentary and research
What Are Santiment’s Key Features and Tools?
Santiment’s suite of tools goes beyond basic charting and technical analysis. We were impressed with the toolkit and thought it would benefit most traders. We found some standouts, which are listed below:
Sanbase studio
- Sanbase: The platform’s flagship tool provides real-time updates on key metrics, capturing changes in coin activity and market sentiment. It’s the central hub for monitoring trends, tracking prices, and understanding what influences the market.
- Sansheets: This Google Sheets extension integrates seamlessly with Santiment’s data, allowing you to create custom spreadsheets and charts.
- SanAPI: Developers can leverage Santiment’s API to build applications, integrating the data into trading bots, dashboards, or other platforms.
Community-driven features (H3)
- SanR: A decentralized marketplace for crypto signals where users can generate and share their own trading ideas based on Santiment’s data.
- Sanhunters: This program incentivizes users to contribute valuable market research and insights.
What Is Santiment’s Pricing?
Santiment offers a range of pricing plans, and with a 14-day free trial, you can explore the full suite of features before committing.
Individual plans
- Free: Provides limited access to Sanbase with a 30-day lag, basic API access, and limited query credits.
- Sanbase Pro: Unlocks full historical data, increased API and query limits, access to the Google Sheets plugin, and exclusive reports for USD 49/month or 529/year.
- Sanbase Max: Offers everything in Pro plus priority technical support and higher data limits for USD 249/month or 2700/year.
Business plans
- Business Pro: Includes two years of historical API data, real-time API access, high call limits, and dedicated account management for USD 420/month or 4788/year.
- Business Max: Offers full historical data and metrics, real-time API access, increased call limits, and a multi-seat account for teams for USD 999/month or 11388/year.
- Enterprise: Provides custom development, data reselling rights, and a service-level agreement, and it is individually priced.
Hold SAN, Pay less
Santiment offers a 20% discount for holders of their native SAN token. You can gain full Pro access by burning or providing SAN liquidity.
Conclusion
Although the world of crypto analysis platforms is crowded, we thought Santiment’s tools powered by on-chain, social, and developmental data made it stand out. We were also intrigued by the combination of machine learning and human knowledge and thought that combination gave the platform a further edge.
However, like any tool, Santiment has its limitations. The cost of premium subscriptions might be prohibitive for some, and the learning curve for beginners can be steep. While we found its data reliable, interpreting social sentiment and on-chain metrics requires some level of knowledge.
Having said that, we thought the platform would be suitable for a wide range of users, including beginners, seasoned traders looking for an edge, curious investors seeking hidden gems, or developers building custom applications.
