How to Detect Governance Sentiment Shifts with the Pulsebit API (Python)

In the world of cryptocurrencies and decentralized governance, understanding sentiment is crucial. Whether you're developing a trading algorithm or monitoring community sentiment, timely data can make a significant difference. However, scraping sentiment data from various sources can be a pain. That's where the Pulsebit API comes into play.

The Problem (DIY scraping pain)

Scraping websites for governance sentiment data can be cumbersome and unreliable. Sites may have rate limits, anti-scraping measures, or just change their structure without notice. You end up spending more time maintaining your scraper than analyzing the data itself. This is especially problematic when you need real-time updates to capture sentiment shifts that can affect trading strategies or community engagement.

The Solution (Pulsebit API — one endpoint)

Enter the Pulsebit API. With just one endpoint, you can access sentiment data that is specifically tailored for governance, making it a breeze to integrate into your applications. The /news_semantic endpoint provides a straightforward way to get sentiment metrics, including momentum and confidence levels. This means less time worrying about scraping and more time focusing on what really matters: the data.

The Code (Python GET /news_semantic)

To get started, you'll need to install the requests library if you haven’t done so already:

pip install requests

Here’s a simple Python script to get governance sentiment data using the Pulsebit API:

import requests

def get_governance_sentiment(api_key):
    url = "https://api.pulsebit.co/news_semantic"
    headers = {
        "Authorization": f"Bearer {api_key}"
    }

    response = requests.get(url, headers=headers)

    if response.status_code == 200:
        return response.json()
    else:
        raise Exception(f"Error fetching data: {response.status_code} - {response.text}")

if __name__ == "__main__":
    API_KEY = "your_api_key_here"  # replace with your API key
    sentiment_data = get_governance_sentiment(API_KEY)
    print(sentiment_data)

Replace "your_api_key_here" with your actual API key from Pulsebit.

Reading the Response

When you call the /news_semantic endpoint, you’ll receive a JSON response that looks something like this:

{
    "governance_sentiment": 0.00,
    "momentum": 0.60,
    "clusters": 0,
    "confidence": 0.87
}

Here’s a breakdown of each field:

• governance_sentiment: This value (e.g., 0.00) indicates the current sentiment in the governance space, where positive values indicate bullish sentiment and negative values indicate bearish sentiment.

• momentum: A value of 0.60 suggests the strength of the sentiment shift. Higher values indicate a stronger momentum, which could signal potential trading opportunities.

• clusters: The number of sentiment clusters identified. In this case, 0 means that there are no distinct sentiment groups, which could indicate a lack of consensus.

• confidence: A confidence score of 0.87 implies that the sentiment data is relatively reliable, giving you more assurance when making decisions based on this information.

Three Use Cases

1. Algo Alert: Integrate this sentiment data into your trading algorithm. For instance, you can set up alerts when momentum exceeds a certain threshold, indicating a potential buy or sell signal.

2. Slack Bot: Create a Slack bot that automatically posts sentiment updates in your team’s channel. This can keep everyone informed about governance shifts without needing manual checks.

3. Dashboard: Build a dashboard that visualizes sentiment data over time. Use libraries like Matplotlib or Plotly to create graphs that help spot trends in governance sentiment.

Get Started

To dive deeper into the Pulsebit API and explore more functionalities, check out their documentation. With just a few lines of code, you can harness the power of governance sentiment data and make more informed decisions in your projects.

Embrace the simplicity of the Pulsebit API, and stop wasting time on scraping. Happy coding!