Cryptanite Develops Crypto Market Twitter Sentiment Analysis Tool
Cryptanite Blockchain Technologies Corp. has released a Twitter market sentiment analysis tool to capture and assess public opinion regarding the cryptocurrency market.
The Colorado-based blockchain technology company providing secure peer-to-peer payment systems, said the tool is available exclusively on CryptaKings, an expert network to help current and potential cryptocurrency investors navigate the oftentimes confusing and volatile cryptocurrency marketplace.
The sentiment analysis aggregates approximately 360,000 tweets daily, categorizes them as positive, negative or neutral, and then it displays that information on a chart. The sentiment analysis is benchmarked against the changes to the price of bitcoin, so users can appraise consistency in relation to the market sentiment.
According to John Eagleton, co-founder and CEO of Cryptanite, since the price of bitcoin and the volatility of the market are in large part attributed to the public’s perception of the two, the new Twitter market sentiment analysis from Cryptanite will help the company meet customer demand for additional insights into the cryptocurrency market.
This tool also provides users with greater understanding of the fluctuations in the cryptocurrency market and can help make more informed investment decisions.
Cryptanite harnesses blockchain technology to provide secure, real-time peer-to-peer payment systems. Cryptanite’s growing product line includes web and mobile apps, including credit and debit products for fiat and cryptocurrency markets.