SWFT Coin as the latest example of "Community Vote" pump
Takeaway: Binance-related news are still powerful boost for tokens. But for how long?
Assets covered: SWFTC
Metrics used: Trading volume, Token Age Consumed, Top Token Transactions, Historical balance, MVRV, Percent of Total Supply on Exchanges, Exchange Flow Balance, Amount in Non Exchange Top Holders, Daily Active Addresses, Social Volume
SWFTC is an 'easy readable' ERC-20 token of SWFT Blockchain, giving some extra liquidity sources needed to speed up swaps and offer low fees.
Along with CHR, it remained on top of Emerging Trends for more then a day:
The reason was Binance holding a round of community vote between SWFTC and CHR (Chromia):
It happened here:
Price went up shortly and dropped even more. Quite opposite to the first voting announcement happened here:
80% pump in 12 hours on announcement and decline
There’s more of this Insight
Choose your subscription plan
Years of market experience, compressed in each report
Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.
Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.
Our previous TOP calls:WAVES crowd sentiment patternMATIC charts a new ATH: is the top in?ICX insanity. How far could it go?
What you get with Sanbase Pro:
- Members-only daily market insights and analysis
- 30+ on-chain, social & project indicators for 900 cryptocurrencies
- Custom alerts for the coins' price, on-chain & social trends
- Santiment Spreadsheet plugin with 10+ pre-made market templates
- Personalized asset watchlists and weekly performance reports
Gain unfair advantage with Sanbase Pro
Subscribe to Sanbase Pro for access to exclusive insights, market-beating metrics, strategies and templates!