Top Social Gainers for Monday, June 3rd, 2019
Here are Monday's biggest developing stories in crypto based on Santiment's social media data:
- XRP (1280+ new mentions in last 24 hours):
While it’s nowhere close to staging another flippening, Ripple’s latest gains got the XRP army all giddy about the project’s mid-term potential.
This morning the coin spiked just over 4% to an intraday high $0.459 in less than 2 hours, before eventually mirroring Bitcoin’s downswing back to the $0.44 range. It has since mostly stabilized at around that level, and has been trading sideways for the rest of the day.
Despite the run, some Ripple enthusiasts were visibly annoyed with Bitcoin for promptly ending XRP’s breakout:
Nonetheless, the overall XRP sentiment has been overwhelmingly positive today, perhaps elevated by the fact that this is the coin’s second notable uptrend in the past 7 days. The Ripple subreddit has been in full bull mode throughout the day:
As for the cause of the pump, most seem to pin it squarely on rally-favored TA, none of that fundamental shenanigans:
Over on Twitter, TA pundits appear similarly bullish about XRP’s future action:
Overall, there seems to be a steady influx of pro-Ripple sentiment accumulating at the moment. Will that translate to growth on the XRP chart? One thing’s for sure - the answer lies somewhere in this thread:
- Voice/Eos (740+ new mentions in last 24 hours):
Over the weekend, EOS’ parent company Block.one announced that it will be launching a new, decentralized social media platform called Voice. The Dapp will run on the EOS blockchain which itself will be upgrading to a faster Version 2.0.
As it will be utilizing a public chain, everything posted on Voice will be public, which perhaps surprisingly seems to be one of the platform’s main selling points. At a time when even Facebook’s pledging a focus on privacy and social platforms are embracing anonymity, Voice will, according to some community members, require biometric ID verification to join the party.
Among other points, Block.one’s CEO vowed that Voice will provide transparency about its underlying apparatus, doing away with proprietary algorithms and ad-favored content serving. Despite big promises, the news was met with lukewarm reception, with some already calling the platform a glorified Steemit:
Apart from immediate comparisons to previous social dapps, some were also concerned about Voice’s insistence on ID verification or how they’ll handle censorship:
Others simply don’t believe in Voice’s ability to steal relevant market share from any of the incumbent platforms:
That said, not everyone was willing to pronounce Voice DOA. A number of community members pointed to the platform’s various potential benefits, like using Voice as an onboarding tool for crypto-reluctant masses:
Future flop or not, the Voice announcement did little to boost EOS’ stock over the weekend. Quite the opposite in fact: the coin’s been losing ground ever since the news and has lost more than 10% in the last 24 hours alone, currently sitting at a week-low $6.92. Looks like the early reviews are in.
- Justin/Trx (1340+ new mentions in last 24 hours)
In case you missed it, last week Justin Sun made an incredible vague announcement of an announcement (which was still enough to pump both TRX and BTT btw), claiming that the project’s been working on “something huge and amazing”, and estimating about a 70% chance of whatever he’s talking about actually happening.
Well, we now know what that “something” is, and it’s...quite something.
Earlier today, Tron’s founder and BitTorrent CEO revealed that he has paid $4.57M to win an eBay charity auction. The grand prize? Lunch with Berkshire Hathaway CEO Warren Buffett.
Sun reportedly placed a record-breaking bid to win the charity auction, which has been held by Warren Buffett for the past 20 years. According to some outlets, the winner also gets to bring along seven of his friends to have lunch with Buffett at an NY steakhouse. Justin says he’ll invite various blockchain leaders to meet with an outspoken critic of cryptocurrencies who just recently called Bitcoin ‘probably rat poison squared’.
As with virtually anything Justin Sun has ever done, the announcement instantly split the community and birthed two strongly opposing views. Some in the cryptoverse dubbed Sun ‘desperate’, and predicted that Buffet will not only remain unswayed about crypto, but will probably humiliate Justin in the process:
As an addendum to the anti-Sun crowd, there were also those that saw this as a colossal waste of money that should make any Tron investor furious:
And then, there were those that were varying degrees of excited or outright bullish about the prospect of Warren Buffett rethinking his position on crypto:
Regardless of the lunch’s outcome, the announcement certainly worked as planned, swiftly pumping the coin to an intraday-high $0.0387. Unfortunately for Sun, the rally was soon followed by a market-wide retraction which caused Tron to lose most of its weekly gains. After another major dip just an hour ago, the coin’s currently -12.4% for the day.
As always, head over to our Social Trends page for the latest updates.