Top Social Gainers for Sunday, March 24th, 2019
Here are today's biggest developing stories in crypto based on Santiment's data:
BNB (2123+ new mentions in last 24hrs)
Sunday saw BNB jumped by 15% to $17.29 following Binance’s announcement that their Launchpad token sale format is changing to a lottery system.
You may remember how Launchpad token sales were like previously. Where everyone was just rushing, botting, or doing whatever they can just to get their way in. And hoping that the system eventually manages to process your order. This eventually left many users frustrated and calling it an unfair system.
Going forward, each project on Launchpad will set a maximum no. of potential lottery winners and the allocation amount (USD equivalent in BNB) for each ticket.
In order to participate in the lottery, each user will have to maintain a minimum balance of X BNB over a 20-day period leading up to the lottery:
Depending on how much BNB they are holding, users can get up to a maximum of 5 lottery tickets. Prior to lottery day, users will have to decide how many tickets they want to use to enter the draw. It is important to note that each ticket is a commitment to purchase, which if won, BNB will be deducted from the user’s balance accordingly.
You can read more details of the new lottery system here.
RVN (642+ new mentions in last 24hrs)
Ravencoin (RVN) continues to melt everyone’s faces off with yet another leg up to $0.060496, gaining over 400% in the past 30 days.
Interestingly, RVN was trending earlier this month and now, it left the majority of the crowd wondering once again, “Why?”.
Could “Buy the rumor” have something to do with it? The recent rally began on 18th March following Overstock.com’s earnings call where CEO Patrick Byrne mentioned:
Raven has a role to play in a number of these Medici companies. It's been designed and developed as the perfect protocol for digital assets, has significant advantages over both Bitcoin and Ethereum. I think, you'll be hearing very significant news about Ravencoin shortly, perhaps as early as this week.
It plays a role in the number of the companies in which we're involved, like you're seeing in front of you here. If you know the business model of consensus, one could say that Medici Ventures is like has a similar business model but where consensus is purist about using ether, we are not purist about using Ravencoin but there are four or five companies in there, at least, that look like they will be making use of Ravencoin.
Which was also shared on Twitter,
If indeed it’s the classic “Buy the rumor, sell the news”, it pays to be early for the rumor. The ones asking “Why” are too late to the party now. Next up would be “Sell the news”, whenever the official announcement comes.
VTHO (105+ new mentions in last 24hrs)
VTHO, the token powering transactions on the Vechain blockchain hit a new milestone this week. Burning around 4.2m VTHO on 24rd March, bringing the total VTHO burned since mainnet to 100m.
Even with that, the amount of VTHO reserves still remains a concern.
As always, visit SANbase to explore these and other trends in more detail!