Methodology

The CCSIX CryptoCurrency​SentimentIndex is constructed based on the analysis of social media content of top cryptocurrencies.

  • Bitcoin
  • Litecoin
  • Monero
  • Ripple
  • MIOTA
  • Ethereum
Currencies part of CCSIX

For each cryptocurrency, at the moment ~25,000 posts from Reddit and Twitter are analyzed daily and evaluated in 8 categories based on Orenda Solutions proprietary technology:

Fomo
That feeling you get when you commit to a cryptocurrency because you don’t want to miss out on all of the fun.
Goodness
When a cryptocurrency does something with absolutely no expectation of a return, such as a donation to someone need. That is goodness.
Whale
Measuring the degree of panic or calm expressed online when major influencers cause waves. This allows the Crypto community to see the influence they are having on others. Watch the waves.
Lambo
When you invest in the crypto community and the rewards start rolling in, or when the train has left the profit station. No one wants to be in a situation where there are no benefits to continuing.
General
This is a mishmash of content that has some measurable sentiment and can have an impact on the cryptocurrency index.
Character
We measure the more colorful adjectives that have an impact on a coin’s general makeup, like the color orange when describing a prominent political figure.
Satisfaction
The number of times you get a warm fuzzy feeling when you read a positive comment about your coin and it just reconfirms your belief that you picked the right one. Nothing is better than your coin.
Trust
You know that the coin you invested in has integrity, can be depended more than all of the others, and will be there for you no matter what happens with regulators and the like.

The overall sentiment value for each individual cryptocurrency is calculated as the average of the 8 categories.

The overall CCSIX is then calculated as the average value from the cryptocurrencies, weighted by market cap. The current distribution is as follows:

The relative CCSIX is then calculated via the following formula:

With the min_relative_ccsix and max_relative_ccsix being the minimum and maximum values observed since launch of ccsix

relative_ccsix max_relative_ccsix min_relative_ccsix price absolute_ccsix min_relative_ccsix