Top Social Gainers for Sunday, March 17th, 2019
Here are today's biggest developing stories in crypto based on Santiment's data:
- Tether/Backed/USD (780+ combined new mentions in last 36hrs)
ICYMI, Tether updated the terms on its website to say that the stablecoin may not be 100% backed by $1 in the bank for each USDT. The site now says Tether’s reserves “may include other assets and receivables from loans made by Tether to third parties”
Also noteworthy is that MKR, MakerDAO’s native asset, is up 7.6% since the Tether news. MakerDAO’s stablecoin, DAI, has been lauded as an alternative to Tether in the last few days.
- Btt (760+ new mentions in last 36hrs)
BitTorrent’s coin is the only altcoin recording double digit gains today, leaping by over 11% in 24 hours and reaching a 3-week high 21 Satoshi.
Some believe the momentum was driven by Friday’s launch of the early access program for BitTorrent Speed, a Dapp which will reward BitTorrent users with BTT in exchange for seeding and bandwidth.
Others point to positive candlestick formations like the “golden cross” and a spike in trading volume and RSI (relative strength index).
- Cboe (50+ new mentions in last 36hrs)
The Chicago Board Options Exchange will not offer any new Bitcoin futures contracts (XBT) amid falling volumes.
CBOE says it needs to reassess how it offers “digital asset derivatives for trading”. Existing contracts are still available for trading, the latest of which are set to expire in June 2019.
XBT has been steadily losing ground to Bitcoin futures from CME (Chicago Mercantile Exchange), which reached an ATH less than a month ago (and made our list on that day)
- Dai (60+ new mentions in last 36hrs)
DAI recently lost its peg to the dollar, hitting as low as $0.96 on exchanges. As a result, MKR holders voted to increase the so-called Stability Fee to 3.5%, which should assure DAI doesn’t lose its peg.
While DAI has been getting closer to 1$ as of late, it doesn't appear to be there yet, so there have already been calls for another fee hike.
In other news, SportX - a crypto sports betting exchange with all bets placed in DAI - launched recently.
And finally, a few quick stories from reddit:
- Chaintip (30+ new mentions in last 36hrs)
r/btc welcomes back chaintip, a reddit bot that facilitates on-chain BCH tipping
- Ubi (65+ new mentions in last 36hrs)
r/bitcoin takes on Universal Basic Income, and it goes as well as you might expect
r/cryptocurrency debates an old ‘Bitcoin is a bubble’ comic, denounces the author.
Turns out, the comic author has a history of anti-Semitic comics:
As always, visit SANbase to explore these and other trends in more detail!