IQ Option is now delivering weekly analytical reviews on Santiment and its coin, SAN. But what is Santiment and why do cryptocurrency investors from all over the world follow the price action of its coin? This article will cover the basic idea behind the company, its business model and the price action of the respective coin.
Santiment is positioning itself as the Bloomberg of the cryptocurrency world. And just like Bloomberg, the company is building a subscription oriented data feed platform. Thanks to the platform, users will get access to a transparent database and real-time market monitoring.
The project is aiming at three distinct groups of customers:
- Professional cryptocurrency traders/investors
- Newcomers to the crypto market
- Data vendor middlemen
All three, however, have something in common. They want to understand the market in a better way and correctly predict future price movements. Free version, aimed at individual investors, will provide extensive information on past and upcoming ICOs, market and sentiment data. Paid subscription, suitable for corporate investors, will provide even more in-depth information to those who need to know as much as possible. Online exchanges may also want to use the information provided by Santiment to attract new traders with comprehensive analytics.
The company has also uploaded a MVP alpha demo to the App Store. However, the prototype is neither offering full functionality to the clients, nor working correctly. The application was last uploaded on 27 June 2017, before the ICO opening date. It was earlier expected that the mobile terminal will become one of the Santiment’s key access points. The assumption no longer holds good.
The company will not only capitalize on the cryptocurrency craze by providing up-to-date information to the investors. Santiment is distributing the crypto token of its own, named SAN. The latter can be used inside the system as a payment tool, a reward for crowdsourcing and, most importantly, for staking. By staking enough SAN tokens the user will get free access to much-desired subscription-only section of the data feed. What’s the benefit of this policy for the company? By putting enough tokens aside, the company is bringing down the supply while also driving up the demand. SAN coins in this case are expected to appreciate, just like the company behind them.
Santiment is working on the crypto database of its own. Filled with massive amounts of information on (probably) every important cryptocurrency out there, it is destined to make the decisions making process easier and much more factual.
Santiment is carrying out a crowdsale, during which individuals will lay their hands on 54% of the total token supply. Despite long-term positive prospects, voiced by the cryptocurrency community, the price action of SAN is not doing well. At least, since August 24th. For the last two months the cryptocurrency is demonstrating negative dynamics, either due to lack of progress or insufficient buying pressure. It can either be due to slower than expected development of the project, insufficient buying pressure or both.Trade on SAN