Top Social Gainers for Wednesday, April 3rd, 2019

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Apr 4, 2019

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

doge/elon (523+ new mentions in last 24hrs)

The price of Doge spiked on April's 1st, leaving many to wonder what was the cause of it. But what was initially considered as just an "April's Fools " pump soon spiralled into classic Much Wow territory.

Dogecoin eventually tweeted out that they were looking for a CEO and held a poll around 4 candidates, with Elon Musk getting the most votes for CEO.

And....... Elon Musk responded, acknowledging Dogecoin as perhaps his favourite cryptocurrency.

Just how cool is that guy? Well, not stopping at just that, Elon went on to update his twitter profile to "CEO of Dogecoin". However, his stint at Dogecoin was shortlived, as he updated it to "former CEO of Dogecoin" before you could even go "WOW".

But not before tweeting out :

The price of Doge continued to spike following the awesome trolling between Elon & Doge. This eventually led some community members attributing the pump to Elon and many asking Binance to list it.

bch (2672+ new mentions in last 24hrs)

Not to be outdone by BTC's recent strong breakout, BCH started its own. Jumping 100% to a peak of $339.62 within 24hrs leaving many (skeptics and all) wondering why.

There seems to be no news or rumours out there behind this movement. Instead, the crowd is attributing it to BCH's technical analysis.

ltc (1570+ new mentions in last 24hrs)

LTC continues its rally that kicked off in early Q1 2019 into Q2. While Litecoin's halving is not until August this year, it is believed that traders have actually began pricing it in, which sparked the initial rally.

Which in turn led some to believe that Litecoin has been responsible in leading the market.

As usual, the crowd gets excited and everyone's an "expert" telling each other what to buy.

While everyone is going gaga over LTC's rally, Michael Novogratz offered a contrarian view to it. Calling LTC "a glorified test net for BTC" and advising people to sell it for BTC instead.

amb (386+ new mentions in last 24hrs)

A rumour recently surfaced suggesting that VeChain (VET) might have bought over Ambrosus (AMB). This is due to Twitter user Waza's discovery of the company "Ambrosus Technologies GmbH" updating its name to "VeChain GmbH". There's even a legit entry to this claim.

However, VeChain's CEO Sunny Lu denied the rumours and intends pursue legal action against the misuse of their trademark.

Eventually AMB global CEO Angel Versetti made a reddit post to clarify everything.

In the midst of these rumours, it also doesn't help when crypto twitter discovers there was a huge spike of token transfers during this period.

Checking on-chain data, we observe several large transactions to exchanges in the past 2 months

Amount of AMB to exchanges

This brings the % of AMB circulating supply on exchanges to 68.821%. It is a pretty unusual to see such a huge supply on exchanges indeed.

% of AMB supply on exchanges% of AMB supply on exchanges

This left speculators wondering whether the team is going to exit scam, or having a merger or what the heck is really happening? Too many suspicious activities but no real answers.

Eventually AMB global CEO Angel Versetti made a reddit post to clarify everything.

Nonetheless, the rumour mill is still spinning and there are some questions still left unanswered. @BTC_Jacksparrow sums up the entire AMB/VET situation best in this tweet thread.

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Apr 4, 2019

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Assets from this insight

Dogecoin logo


$ 0.002671

2.75%in last 7d
Bitcoin Cash logo

Bitcoin CashBCH

$ 264.32

9.32%in last 7d
Litecoin logo


$ 57.67

23.03%in last 7d
Ambrosus logo


$ 0.015527

5.74%in last 7d
VeChain logo


$ 0.011248

3.55%in last 7d

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