Crypto Market Data Tweets Explained

Here is a simple guide to help answer some frequently asked questions about the @ToshiSat0shi Twitter Bot.

Update: Stable coins such as USDT, USDC, TUSD, etc. will be phased out of future tweets as of June 2021.

Which Coins Do You Monitor?

The twitter bot monitors the Top 125 cryptocurrencies by market capitalization. These coins tend to have the most volume and liquidity which make them the best for trading. With thousands of cryptocurrencies available, this is where the limit is currently set.

Bitcoin Order Balance Market Alerts

Toshi Satoshi Bitcoin Market Alert Tweet Example

The market sentiment indicator monitors the Bitcoin order book depth of 5 top cryptocurrency exchanges and aggregates the data by order type, representing a total percentage of market participants that are sitting on either the buy or sell side. Totals from each exchange are then used to calculate an overall average and then buys are subtracted from the sells, resulting in an overall remaining percentage.

Market Alert tweets occur when the remaining overall market balance is detected to be greater than 30%. The bot checks for status every 10 minutes. In times of strong trends, there will be multiple alerts per hour with high imbalance in a single direction. In times of high volatility, there can be several alerts within an hour indicating that high volume orders are being triggered in both directions.

You can monitor each exchange individually on the homepage at CryptoNetDaily. This alert can often times produce leading signals for when a big move is going to occur by watching the individual exchanges. When the market favors one side too heavily, its often considered to be to “heated” and a reversal could be in the works.

Daily Range

Intraday traders need volatility to make quick profits, and daily range data helps them find digital assets with the biggest price swings in the past 24 hours. Many low market cap cryptocurrencies can experience large price swings in a short period of time, making it easier to catch “the meat” of a move and profit by a few percent or more on the day.

Two important metrics to also consider when scouting volatility is liquidity and volume. Day traders typically need highly leveraged positions to make a day’s pay, and getting orders filled without sufficient volume (and liquidity) to support it can be difficult.

There are 4 different range metrics that are tweeted at random:

  1. Sorted by highest range, in percent
  2. Sorted by highest trade volume
  3. Sorted by smallest range, in percent
  4. Sorted by market cap

Volume vs Supply

Toshi Satoshi Crypto Volume vs Supply Tweet Example

The Volume vs. Circulating Supply metric shows total volume (or quantity) of an instrument traded versus its actual circulating supply over the past 24 hours in percentage. Instruments with a low percentage of trade volume vs. circulating supply indicates that not much liquidity exists on exchanges and most of the supply is being held in wallets.

For large market cap cryptocurrencies, like Bitcoin, a low percentage of trade volume vs. circulating supply is a bullish indication as it suggests a majority of the supply is being held off exchanges in private wallets. What’s important is that the supply is not concentrated in a small number of wallets as you might find in lower market cap projects.

Sometimes the trade volume can exceed the circulating supply and that indicates not much long term holding interest and wash trading. You will see this with stable cryptocurrencies like Tether.

There are 4 different metrics that are tweeted:

  1. Sorted by highest 24H volume
  2. Sorted by largest market capitalization
  3. Sorted by largest 24H price increase
  4. Sorted by largest 24H price decrease

Circulating Supply

Toshi Satoshi Crypto Circulating Supply Tweet Example

The circulating and total supply of a cryptocurrency is very important because low supply and high demand leads to rapid price increases. In the case of Bitcoin, supply is limited at 21M and the trade supply vs. circulating supply levels are very low. Cryptocurrencies with an “unlimited” supply are often less desirable because, like fiat money, new coins can be minted indefinitely, always able to meet demand.

Another factor to consider is how much of the total supply is on the market. If there is a low circulating supply but a large total supply, that means supply is in reserve and you can expect more to enter the market in the future. When the circulating supply increases, prices tend to go down.

Tweets are sorted by either lowest circulating supply versus total supply or highest circulating supply versus total supply. Cryptocurrencies with a higher circulating supply vs total supply are more desirable.

All Time Highs

Toshi Satoshi Crypto ATH Tweet Example

A metric that is most useful in bear markets, the all time high metrics show you how far away current prices are from their historical highs. This helps you determine which cryptocurrencies have suffered the greatest loss and scout the deepest discounts.

The closer a price is to their historical highs, the stronger the current state of a market. Prices that are very far away from the historical highs have suffered great losses, either because of fundamentals or overall market conditions.

Top 5 by Market Cap

Toshi Satoshi Crypto Market Cap Tweet Example

This simple metric lists the top 5 cryptocurrencies, sorted by total market capitalization. These are considered the top “blue chip” assets in the crypto market.

Top 5 by Volume

Toshi Satoshi Crypto Volume Tweet Example

Another simple metric that sorts the top 5 cryptocurrencies by trade volume. Day traders will typically have interest in these coins as they offer the most intraday liquidity.

Top Gainers and Losers (24h, 7d, 14d)

Toshi Satoshi Crypto Top Gainers Tweet Example

Probably the most popular tweets of them all, the Top Gainers and Loser collection shows which cryptocurrencies have had the greatest price increase or decline over a given period. There are a total of 6 possible tweets: Top Gainers 24H, 7D, 14D and Top Losers 24H, 7D, 14D.

Cryptocurrencies that experience very large movements in a short period of time usually over short term trading opportunities. Day traders may have the most interest in the tweets that show change over 24 hours while swing traders may have more interest in 7 day or 14 day values.

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