Top Social Gainers for Thursday, March 7th, 2019
Here are today's biggest developing stories in crypto based on Santiment's data:
BNB - BTC comparisons flare, as Binance Coin deviates from Bitcoin’s price trend to extend its 3-day rally and overtake Tether as the 7th biggest crypto asset by market cap.
As the rest of the crypto market consolidates, BNB has gained 54.7% (!) for the week, and is up 8% in the last 24 hrs alone.
Decoupling from Bitcoin is fairly uncommon for even the biggest of crypto assets, which prompted Justin Sun to recently dub BNB “a new Bitcoin”
In the meantime, Bitcoin continues to trade in the $3880 range, as some technical analysts mark $4200 and $3700 as levels to watch.
- LTC/Litecoin (1400+ combined new mentions in last 24hrs)
Following in BNB’s footsteps, Litecoin overtakes Tether as the 4th biggest crypto asset by market, as the coin improves to +25.3% for the week, and +3.1% for the last 24 hrs.
Some attribute LTC’s rally to the ‘Venezuela effect’, as the South American government recently approved a crypto remittance service to allow citizens to transfer BTC and LTC.
Others point to Litecoin’s recent efforts to improve security & privacy by partnering with Beam, as well as its upcoming ‘halving’ event.
- Starbucks (100+ new mentions in last 36hrs)
Starbucks denies The Block’s report that US customers might soon be able to pay for a frappucino with Bitcoin.
Instead, the chain says it will work with Bakkt - a crypto payment platform that it reached an equity deal with - to develop ways for customers “to convert their digital assets into US dollars, which can then be used in our stores”
- Trx (160+ new mentions in last 24hrs)
Several Tron-related developments in the last few days got the crowd talking:
- Tether (USDT) is introduced to the TRON Blockchain; its TRC20 token will exist alongside the Bitcoin’s Omni layer and ERC-20 iterations
- 2nd biggest exchange by daily volume, OKEx launches support for TRX on its Customer-to-Customer market
The announcements did little to offset TRX’s downward trend, however - the coin lost 3.6% in the past week and 1% over the past 24hrs.
- App (1700+ new mentions in last 24hrs)
Similar to TRX, App also appears to be trending for two separate reasons:
- Denver will use a smartphone app based on blockchain technology for municipal elections, aimed at active-duty military and overseas voters
- Rumours suggest Samsung S10’s built-in crypto wallet app may circumvent Bitcoin, only support Ethereum at launch.
- Zcoin (100+ new mentions in last 36hrs)
As part of its ongoing series of community AMAs, Binance recently hosted Zcoin cofounder Reuben Yap on their main Telegram group.
Among other things, Reuben discussed Zcoin’s roadmap, POW, comparison to other privacy coins, and gave away some 100 $XZC in the process.
As always, visit SANbase to explore these and other trends in more detail!