Top Social Gainers for Wednesday, May 29th, 2019

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

Iota/coordicide (1128+ combined new mentions in last 24 hours)

The IOTA foundation announced a new protocol update called "Coordicide" , which will see the removal of the Coordinator that has plagued the project for the longest time as being centralized and other scaling issues. With Coordicide, IOTA may finally achieve decentralized and scalable DLT.

As news of the announcement made its rounds through the cryptosphere, IOTA's price too reacted accordingly, seeing more than +22% gain and continuing the rally that began on 26th May.

Some of the crowd's reaction:

  • Do we think IOTA has much left in the tank? We’re nearing a second resistance level due to the news, but I’m thinking it might be an opportune time to exit stage left and wait for the retrace.
  • I believe IOTA will change that in the future. IOTA will be incredible if/when coordicide is working. Nano is working great as a P2P now. They both have their merits IMO.
  • So, I hold an equal amount of IOTA and NANO. So far, NANO's claim to fame (and the reason for my investment) was that it does very fast, free transactions, thus making it an ideal currency. With coordicide, and from what I read, it seems IOTA can now do
  • I don't even like IOTA anymore despite holding for over a year and selling a few months back - but it has a much better wallet than any other crypto I have seen.

Looks like most are comparing NANO vs IOTA and with the latest update, IOTA might just be the leader.

Ark (222+ combined new mentions in last 24 hours)

Ark has recently launched the Ark deployer, allowing anyone to create their own fully customized blockchain in just 3 simple steps.

According to Justin Renkin of Ark,

By utilizing ARK Deployer, you gain a fully functioning, standalone blockchain, not just a token or smart contract. Your new blockchain can be molded to fit your specific industry or use-case through our extensible, modular infrastructure. Our platform includes access to well over a dozen SDKs, flexible Typescript plugins, and an ever-expanding catalog of custom transaction types to implement within any project or service.

Seems like a pretty big milestone for the Ark ecosystem, but interestingly, the price did not react much to the announcement. Nonetheless, the Ark community celebrated this launch by tipping each other some ARK on Reddit.

Some of the crowd reactions:

  • I have to create my own as well - excited to experiment with Ark Deployer
  • Great to see that the ARK community doesn't stop growing.
  • Why should somebody want to create a blockchain on ARK? Aren't there already enough tokens (on eth, eos, waves) and shitcoins?
  • Ark pumps for about 10 minutes after big releases before the whales put up their sell walls to force the price right back down. One of the most manipulated coins in crypto

Interestingly, most of the comments around ARK were non-price related, could this be a sleeping giant?

Npxs (172+ combined new mentions in last 24 hours)

NPXS continued its next leg up to see a +38% gain over the past 7D. This run up doesn't appear to be news/rumours driven but more of technicals.

The only notable news was about Function X foundation appointing former member on the Ethereum foundation's governing board - David Ben Kay as President.

On-chain data reveals that there were more withdrawals than deposits on exchanges over the month, which may indicate that users are buying NPXS to stake as all holders will receive a monthly airdrop.

On average, daily active withdrawals make up 44% of daily active addresses in the month.

Also, the amount of NPXS holders have grown from about 23,800 to 61,300 over the past year, indicating healthy adoption.

Interestingly, large amounts of NPXS (2.8% of circulating supply) that were deposited into exchanges earlier this month did not have any sell pressure on the price. This is likely due to the snapshot requirements by Binance in their NPXS monthly token unlock program. Currently, 34% of circulating supply sits on exchanges and is increasing every month.

Some of the crowd reactions:

  • i have literally got hundreds of thousands of npxs from 15 sats. if it goes to one penny wow
  • If you're not loaded on NPXS yet, then you're sleeping. 15 sats soon. Then 20 sats... Moon πŸš€πŸš€πŸš€
  • All in npxs
  • What's the news with NPXS? Why is it pumping?

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

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