Top Social Gainers for Tuesday, April 30th, 2019

Profile picture
May 1, 2019

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

  • Elon/Musk (470+ combined new mentions in last 24 hours)

Just another Tuesday in crypto, as Elon tweets “Ethereum” and everyone loses their collective mind:

The infamous Tesla CEO and living meme, Elon Musk’s single-word tweet has already amassed almost 100k likes, and invoked a flurry of excited and somewhat-confused crowd reactions:

“What does it mean Elon Musk???“

“Elon pumping eth again? 👀👀“

“elon is just memeing and having a good time“

And while folks were still trying to figure out what - if anything - Musk was actually trying to say, just 7 minutes later he pulls a complete 180 with another profound, two-letter tweet:

This, however, proved not the end of Elon’s sudden interest in the world’s second biggest crypto asset. After Vitalik invited him to this year’s Devcon, Elon’s tweets (thankfully) got much less esoteric and more specific:

The question prompted a series of tweets from Vitalik, in which he shared his top picks for future Ethereum-based solutions, including a “globally accessible financial system”, “sign in with Ethereum” functionalities, “new forms of human organizational structure” and many more.

The crowd’s reaction to Elon's latest shenanigans was predictably mixed. Some saw this as just a lazy attempt to test his influence on the crypto market:

Others quickly brushed past those concerns (and the follow-up ‘jk’) and assessed Elon’s comments as positively bullish:

Finally, there were those that felt betrayed by Musk’s newfound interest in Ethereum, as he's previously claimed Doge “might be” his favorite cryptocurrency:

Not known for his subtlety, Justin Sun also attempted to divert Musk's attention to Ethereum’s competitor:

Sun’s single-word tweet, however, has proven less well received:

In the meantime, Ethereum spiked about 2.3% over the past few hours, hitting a 3-day high $161.17 before meeting some resistance. ‘Elon effect’ confirmed?

Quarkchain’s Mainnet V1.0 “Singularity” has launched at 23:59 PM Beijing time, but QKC’s follow-up price action has proven less than impressive.

According to the project, Singularity is “one of the first public chains that successfully implemented state sharding technology in the world.” If you’re interested, the Quarkchain announcement goes in depth about the mainnet’s design concept, its technical configurations, ecosystem, as well as the future roadmap.

In a recent interview, Quarkchain’s Chief Marketing Officer also claimed the project has already successfully onboarded several enterprise-level clients to the platform:

“The biggest one is already implemented, and we’ll be able to share in a few months after the first readouts.“

All of this, however, has failed to translate to a significant uptrend for Quarkchain’s native coin. In the 12 hours since the announcement, QKC has mostly continued to trend sideways, and is actually down 1.6% for the day.

Not one to temper expectations, the crypto crowd was vocally disappointed:

The hype around the mainnet launch was initially fanned by yesterday’s Quarkchain AMA, hosted on Binance’s main Telegram group.

In fact, we’ve seen occasions in the past where a Binance AMA was reason enough for the project/coin featured to record significant gains shortly thereafter.

For QKC, however, it was not meant to be. The coin has been on a steady downward slope for much of the past month, with its current price levels second only to the all-time-low recorded back in August 2018.

Looking ahead, Quarkchain is set to host a mainnet token swap in the near future, more specifically “after the mainnet runs stable for at least three months.“ Given Singularity’s immediate impact - or lack thereof - on the price of QKC, perhaps the swap will have better luck breaking the coin's downtrend.

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

Profile picture
May 1, 2019

Thanks for reading!

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


Assets from this insight

QuarkChain logo


$ 0.004924

3.24%in last 7d
Ethereum logo


$ 408.24

8.86%in last 7d