Top Social Gainers for Thursday, April 18th, 2019

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Sanfam
Apr 19, 2019

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



BAT (348+ new mentions in the last 24hrs)


Brave rewards is now available on Brave's Android app, allowing users to easily reward their favourite content creators by tipping them in BAT. As it stands, Brave currently have around 50,000 verified creators in the Brave Publisher program accepting BAT as rewards.


It's interesting to note that daily active addresses (DAA) for BAT has been increasing since the start of the year. Could it be a sign of actual adoption?

Signs of healthy network activity


It's important to separate the speculative transactions from actual network usage. To do that, we take a look at the % of Daily active deposits (DAD) in DAA.

Avg % of Daily Active Deposits in DAA -14%

The current DAD % is 17% , which is considered rather low inn a space where most the use case is mainly speculation. On average the DAD % is 14%. This may indicate that the majority of the addresses are participating in tipping or just actual network usage.


In contrast, check out the DAD % for CELR:

How new project tokens are being used

Average DAD % is 51%, naturally so as the project is relatively new and the most immediate use case will be speculation.


Another interesting observation is how % of BAT supply on exchanges have fallen quite a bit since late last year. Currently it's only sitting at 20.67%. The amount of possible sell pressure is lowered given there's only this much of BAT to speculate on exchanges.

% of token supply on Exchanges reduced over 6 months

That being said, rewards in BAT will eventually have to translate to something of value. Be it in exchange for BTC, USD, or other areas on the platform. Will be interesting to see how things will look like over the next few months.


The current state of BAT continues to show signs of actual adoption as it gradually moves away from the early speculative days of a project. Here's how the number of Holders have grown over the past 2 years.

Number of holders growing over time

From the early speculative days in 2017 to the fall in 2018 and now. We are observing a constant growth of holders on the network which is a healthy sign (even during the bear market). More so when majority of the holders stem from the 10-100, 100-1000 and 1000 - 10000 coins segments.




BNB (1585+ new mentions in the last 24hrs)


BNB new ATH

BNB just made a new ATH to $22.84 USD, entering into new price discovery territory. During this time, Binance announced that Binance Chain is live on mainnet with public access and BNB mainnet swap to happen on 2019/04/23 2:00 AM (UTC).


Here's everything you need to know about Mainnet swap. Now that Binance has its own blockchain, it is also trying to woo as many ERC20 projects as possible over and it's a tough one for projects to say no. Now, any ERC20 project can choose to migrate but... there are obvious caveats, one being that Binance Chain does not support smart contracts atm.

Will your project function without Smart contracts?


Nonetheless, the 1st project announced that will be migrating to Binance Chain is Mithril. Have to say, it is hard to deny the Binance Migration effect it has on a project's price.

Binance Migration effect


I guess we can add Migration pumps to the list below now:


Type of Crypto pumps

  • Rumor pumps
  • Pump & Dump group pumps
  • Listing pumps
  • IEO pumps
  • Mainnet pumps
  • Airdrop pump
  • Migration pumps.

Will this be the new pump roulette for the next few weeks? With a such gains, it is likely that the crowd will be scouring for the next possible ERC20 project that will be migrating over to the Binance Chain. In fact, it has already begun....

When Binance migration Sir?


Which also means that migration rumours / fake news will be rampant in the following weeks as well. Will be interesting to keep a look out on social volume growth around the keywords "migration" OR "migrate" to see how things develop.


Below is a current snapshot:

migrate OR migration social mentions




mcafee (348+ new mentions in the last 24hrs)

Many of you might be familiar with the recent #Faketoshi saga that has been the talk of the town lately, but if you are new, here's a quick recap.


Majority of the drama involved Craig Wright, Calvin Arye, BSV, Binance & other exchanges, and whoever Craig is suing. But what's a good drama without a larger than life character and plot twist? Enters John Mcafee, dropping the bomb that he knows who Satoshi really is and will be revealing who he is if he doesn't come forward soon.


This is also the same man who said that he will eat his own penis on national television if 1 BTC isn't $500,000 by 2020. So....grab your popcorn and just enjoy the show!


As always, visit SANbase to explore these and other trends in more detail!

BATBNB
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Sanfam
Apr 19, 2019

Thanks for reading!

If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!

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Assets from this insight

Basic Attention Token logo

Basic Attention TokenBAT

$ 0.212482

4.34%in last 7d
Binance Coin logo

Binance CoinBNB

$ 29.88

4.80%in last 7d

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