Top Social Gainers for Monday, May 28th, 2019

Here are Monday's biggest developing stories in crypto based on Santiment's data:

Longs rejoiced as Bitcoin soared over 11% since yesterday to a new 2019-high $8907.17, before finally meeting some resistance and cooling off into the $8750 range.

Even with the retraction, the king coin is up 2.3% for the day and has gained more than 6% for the past week. And given its latest flirt with the $9k level, the crypto community seems very ready to bust out the “it’s over 9000” Vegeta memes once again:

  • vegeta soon
  • incoming vegeta 9000 meme
  • somebody get the vegeta memes ready
  • bruh i wanna release my vegeta memes

Mentions of 'Vegeta' exploded on crypto social media today, with anxious memers paying close attention to BTC’s price action and hoping for the right moment to strike:

And while some are ready to flood the cryptoverse with a snapshot of everyone’s favorite DB villain smashing his power meter, others warn of the dangers of invoking the Vegeta meme too early:

Memes aside, there’s been plenty of speculation about the catalyst for the latest Bitcoin uptrend, with some pointing to the liquidation of 100s millions of $ worth of short contracts on BitMEX as the likely culprit.

Others believe it to be the compounding effect of bullish sentiment and news over the last few weeks, including a recent report that Fidelity is set to roll out BTC trading for institutional investors in the next few weeks.

As always, there’s also a large contingent of market watchers that claims market manipulation and whale play as the reason for today’s 11% upswing. And while the market sentiment remains positive, there’s far less Bitcoin chatter today than during the first leg of this rally, back on May 11-12th:

Could the market be getting a bit complacent about Bitcoin’s gains? And is that ‘good for bitcoin’? Watch this space.

  • POA (200+ new mentions in last 24 hours):

In what looks to be the random pump of the day, POA network spiked over 64% in the last 24 hours, climbing to a 6-month high 623 Satoshi before curving south.

And while no one seems sure of the reason why, the rally sparked a renewed interest in the Ethereum sidechain with proof of authority consensus. Over the last 24 hours alone, there’s been more than 200 mentions of POA on crypto-related social channels, quite the leap from the average of 14 POA mentions in the past 7 days prior to the rally.

As of yet, there seems to be no clear catalyst for the uptrend. There have been zero price-moving announcements from the project, nor rumours of upcoming exchange listings, possible future partnerships or similar teaser news. As a result, some are trying to explain the 65% rally with auspicious TA:

...while others are pinning the upswing on classic market manipulation:

Despite the lack of viable explanation, however, the prevailing crowd sentiment on POA still seems to lean positive:

  • POA breaking upwards 😉
  • POA looking bullish again and might kick of again, keep an eye on it
  • POA 💥💥💥
  • Poa still showing strength after pump

And while some have welcomed POA’s massive green candle, others point to the coin’s uptick as further proof of the crypto market’s inherent irrationality:

  • ARN (370+ new mentions in last 48 hours):

The latest Binance-related coin to pump, Aeron (ARN) has improved by 30% on Sunday followed by a sharp decline, only to then repeat that same pattern earlier today:

ARN's 1-week price action

An aviation project aiming to prevent flight logs from being falsified or altered, Aeron was the fifth Ethereum-based project to announce moving to Binance Chain earlier this month, citing “inexpensive transactions” and “fast blockchain” among reasons for the switch.

The announcement did little to ARN’s price action initially, as the coin continued to trade sideways up until Bitcoin decided to pump the whole market. Today’s (and yesterday’s) rally is the first notable post-announcement spike for ARN, likely in anticipation of the project migrating to Binance Chain:

  • When is ARN switching to Binance chain?
  • ARN migrating to binance chain early next month
  • ARN moon

Some in the cryptoverse are comparing ARN’s upswing to that of PHB (previously Red Pulse Phoenix or PHX), which completed its migration to Binance Chain 3 days ago and experienced an impromptu pump soon thereafter:

  • Doesn't matter Arn and bcpt will continue pumping like phb
  • Arn, Bcpt, Wpr and Phb are good to go 🚀🚀🚀🚀🚀

As mentioned, Aeron’s coin was eventually brought back to earth (tee hee), losing over 14% since its daily high, with the community sentiment quickly turning against the token:

  • What a shock matic, Arn and phb are in top 5 losers, a lot of you got played by the shillers in this room!!
  • ARN dumped on me

Still, ARN’s immediate price action could mean it’s not ready to hit that eject button just yet. The coin was comfortably in the red for the day as I started this post, but has since decided to try yet another lift-off, and is currently back to +3.9% for the day. No dull day in Binance land it seems:

  • TRX/BTT (1410+ combined new mentions in last 24 hours):

In a recent tweet, the CEO of the Tron Foundation teased ‘something huge and amazing’ involving both of the above mentioned coins, estimating a 70% chance of whatever he’s talking about actually happening.

However, despite another valiant pump effort, the market paid no attention to Sun’s silly gimmicks, as both coins continued to trade sideways in the hours following the tweet.

Just kidding. Like clockwork, both TRX and BTT spiked almost immediately afterwards, and are currently sitting at +12.3% and +19.7% for the day, respectively.

Nobody seems to have any idea what Sun could be talking about, tho many don’t even seem to care. In fact, some TRX and BTT holders were just grateful for the unsolicited pump:

As expected, the tweet gathered scorn from around the cryptoverse, with some calling Sun ‘shameless’, ‘embarrassing’ and other epithets I’d rather not repeat here (tho you can probably guess):

The tweet’s timing is also peculiar, if you consider that Sun predicted Tron back in top 10 and BTT in top 30 earlier this month:

With that in mind, some see the tweet simply as Sun’s last-ditch effort to kickstart his prediction:

And while there’s been plenty of criticism of Justin’s latest shill attempt, there’s always a fair few praising Sun’s marketing ‘acumen’ and next-level biz dev skills:

  • Say what you like about TRX, tech might not be up to much but Sun knows how to market it pretty well
  • The TRX hype machine is real
  • I love how Justin Sun appears in the Bitcoin sub now. Either hate him or like him, but damn, that guy is making his presence everywhere! I see why he does what he does now.

So there you have it. June 1st. Something big is coming to Tron and BitTorrent. Or not. Either way, it's 'mission accomplished' for Sun.

As always, head over to our Social Trends page for the latest updates.

Thanks for reading!

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