Top Social Gainers for Saturday & Sunday, May 17th-18th, 2019
Here are Saturday & Sunday's biggest developing stories in crypto based on Santiment's data:
- Bnb/snapshot (2312+ new mentions in last 48 hours)
BNB surges to hit a new USD ATH of $29.98 USD before taking a dip. This comes as Binance sends a reminder to users about the BNB snapshot for upcoming IEO, Harmony Protocol. The snapshot period will be from 19th May - 26th May.
Some mixed crowd emotions are observed as one part is excited about the BNB rally and the other, concerned about the dump and having doubts. Of which, the latter may be indicative of those that bought near the top.
Moods 1 day before ATH:
- Never take profit on bnb
- Bnb $90 before 27 May
- BNB GOING FOR ATH AGAIN!!!
- bnb is unstoppable
- Will bnb go down again?
Moods after ATH:
- What will happen to BNB price after the Harmony ONE snapshot?
- BNB is 1 gigantic bubble full of smaller bubbles that when they all pop it's gonna hurt the crypto community way more than anyone can imagine. the coin facilitates PND scams at a massive level and speed the coin is just a catalyst.
- Sell bnb before the snapshot dump
- Can't believe people are selling BNB before snapshot
Quite a bit of a mood swing there as BNB enters a price discovery zone. Jittery hands may see further dip into the hands of the patient.
- Fet (592+ new mentions in last 24 hours)
Fet has fallen -60% since its ATH and has started to climb back up. This bounce and new chatter comes as the crypto market express renewed interest in the Binance IEO class of 2019: BTT, FET, CELR. With the latest IEO success of MATIC, it's hard not to take notice.
In fact, the Binance IEO coins are part of the top 15 coins with most volume on the exchange.
Besides that, this week also saw Fetch.ai have a new partnership Telekon Innov Labs.
The agreement will see T-Labs and Fetch.AI research, build and deploy autonomous economic agents on the Fetch.AI test network. They will look at how such agents can be built into Internet of Things (IoT) devices to provide them with the authority and autonomy to organize themselves free of human intervention.
Given the news and price action, this is how the crowd is expecting things to turn out.
Other notable crowd mentions:
- i was lucky enough to get 3x on MATIC 25% on CELR, and the next big one is now FET... can't go wrong. then back into BTC after it 2x for the BTC Pump
- my FET target is 4800, its keeping its parabolic curve. retest area is about 2k sats.
- if you want a 2-4x get FET, take your profits from MATIC.
- Just watch us go green :) hold your fet and celer.
- I got in matic at 90 sats out at 200, dont miss your chance with FET this time.
- Celr/Celer (957+ new mentions in last 48 hours)
Just like Fetch.ai, Celr's price has seen major drop from its ATH (-44%) and bounced off thanks to the recent spotlight on Binance IEO tokens. This coupled with their recent attendance at ETH New York and even teasing a mainnet sneakpeak has surely gotten the crowd excited.
- matic money flows into celr. its gona follow matic to same valuation so those tht missed in matic can make it here
- celr about to go to with matic
- time to buy celr guys the chart is good to time to pump
- Now i am hodling celr mot selling until 400 sats
- Is it good time to enter CELR, MATIC ..I regret ignoring them
Looks like the crowd are betting on Celr to make those crazy gains as MATIC.
Icx (234+ new mentions in last 48 hours)
ICX has see a +14.7 gain over the past week as rumours of staking and DEX release kept the ICON community excited. The DEX rumours are further confirmed by a tweet from Ricky Dodds, head of institutional markets @ ICON indicating the release of DEX and DPASS (decentralized identity service) to be in May.
Meanwhile, staking details have yet to be officially released but many are quoting August for it to be live.
Exploiting the excitement in the market again, here's Palm Venice Beach (Not to be confused with Palm Beach Research) shilling ICX further to its members of a big announcement that's to come.
- Y'all forgetting the insane pump icx had in bull market .. its gonna happen again
- Yes icx dex coming out very soon should see a nice pump in ICX
- Icx is my best long term hold atm. Once in a lifetime opportunity
- Dude everyone who knows anything bout crypto knows ICX is a solid project
Clearly the crowd is hoping for ICX to reclaim its glory days again soon, but as usual, "buy the rumours and sell the news" is likely to happen and leave most people disappointed. Keep an eye out as we near the end of the month.
- Mith (316+ new mentions in last 48 hours)
Mith, the first project to migrate to Binance Chain sees a decent rise along with the other alts over the past week with a +34.4% increase. Interestingly, it wasn't until the 2nd runup that the crowd started to talk about it. In the 1st runup, there were little to no mentions strangely.
That being said, Mith is still down -93.7% from 1 year ago. Seems like there's no active rumours or news behind the recent price movements. Instead, most are attributing it to TA.
- mith is about to pump. People are buying
- mith to 600-650 within short period of time
- MITH is next moon
- Is mith on the way to zero? I mean I know it just pumped but long term chart looks like 💩
- Etf (287+ new mentions in last 48 hours)
Earlier this week saw the SEC's decision to delay approval on Bitwise's ETF proposal to later this year in October, this comes as BTC continues its runup ignoring whatever delays. What was surprising though is the silence regarding the other ETF proposal - VanEck.
Which was rather unusual for the SEC as pointed out by Jake Chervinsky, Attorney at Kobre & Kim LLP who has often provided solid insights to the BTC ETF matters.
Especially when the grounds for disapproval cited for Bitwise's delay should naturally apply for VanEck and it would only make sense to announce a delay for both on the same day. Also based on how SEC deals with similar proposals in the past, it bundles them up and issues a decision.
But since this is not happening, Jake suggests that it is likely that SEC will approve or deny the ETF proposal instead of delaying it. Of which, denial would be the most likely outcome and he goes on to explain why.
First, I'd be shocked if the SEC approved the first ever bitcoin ETF after six years of denials without taking all the time allowed by law. Moving slowly makes the SEC appear thoughtful & thorough. VanEck's final deadline is October 18. An early decision likely means denial.
Second, market conditions don't support early approval. Bitcoin has been very volatile recently & investigations related to fraud & manipulation have ramped up (like NYAG & Bitfinex). The SEC has no reason or incentive to come out in favor of bitcoin in this environment.
Third & most importantly, the Bitwise delay order issued Tuesday basically forecloses early approval. The order cites several grounds for disapproval that apply to the whole bitcoin market structure & therefore to VanEck as well. See pages 47 to 51.
Or perhaps we are all reading a little too much into things, perhaps it might be just nothing at all, a delay might just happen.
Jake puts the probability of outcomes as follows:
- Delay: 75.0%
- Denial: 24.9%
- Approval: 0.1%
Eitherway, with VanEck's ETF decision coming up on Tuesday, 21st May, the crowd is keeping a close eye on the outcome, will be interesting to see whether it'll impact the price. It'll be pretty crazy if we get an approval though.
As always, head over to our Social Trends page for the latest updates.
Thanks for reading!
If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!
Never miss a post from Sanfam!
Get 'early bird' alerts for new insights from this author