Malthuscarra, Malta, February 28, 2022, Chainwire
Sonar announced the release of their social sentiment AI feature, scheduled to go live this week. It seeks to compete with other sentiment analysis services currently on the market, such as LunarCrush.
In the world of speculative cryptocurrency trading, investors rely on a range of informational metrics to make decisions. With cryptocurrencies, the feeling of "community" is often as influential, if not more so, than the underlying principles and utility of any coin or token. Social media influencers who advertise tokens on their Twitter pages or YouTube channels can serve as a buying signal for some or a red flag to stay away from others. The bustling world of Telegram provides a place for cryptocurrency investors to trade with each other and the founding team of tokens.
For those who have spent time in the cryptocurrency space, learning to navigate Telegram has become a necessity. Often, learning to spot the first signs of trouble in a Telegram group can make the difference between gains or serious trading losses. This can include low activity in the group, certain language used, negative community sentiment, and other signs of trouble that could affect token prices.
Sonar intends to introduce an AI-driven solution for tracking community activity and sentiment around these tokens. The Social Sentiment AI tool will grab data from YouTube, Telegram, Twitter and Reddit to compile sentiment scores in various readings on the Sonar platform. Users will be able to see the real-time sentiment of the displayed tokens in K-line charts as well as sentiment indicators and numerical scores. The analysis is available not only for the top 200 tokens, but also for thousands of cross-chain DeFi tokens with active Telegram channels and social media imprints. While there are a number of other sentiment analysis tools already available, Sonar is currently the only platform on the market that offers Telegram monitoring and analysis.
Sonar's social-emotional AI analytics uses advanced machine learning and a neural network model called a transducer to understand incoming data.
In the next update of the platform is also planned the feature of drawing trade charts. This is useful as a tool for traders to track buying and selling. Users can visualize the price points and dates they traded on a specific coin or token.
Sonar's native token, PING, is currently being traded on the Coinan Smartchain via PancakeSwap. It serves as a utility token to power the rest of the ecosystem, including analytics and trading tools, educational materials, and the upcoming web3 digital currency package. For more information, please visit the Sonar website.
Sonar is an intuitive and powerful ecosystem for data analysis and portfolio tracking. With analytical tools, web3 wallets and a central platform for educational content, Sonar is a new way to interact with the blockchain. Institutional traders have access to many tools that are currently unavailable to retail traders. Sentiment analysis, risk assessment and advanced analytics are valuable tools that the average person can access through the Sonar platform. Sonar offers powerful tools and through educational content also teaches users how to use them.
Director of Operations
- Ryan Schiffman