24th Jan 2019 - Social Trends snapshot

social-trends

#1

Hi there SANclan !

You can find the Social trends snapshot for 24th Jan 2019 here:

(FYI, you can always check the top trending words on SANbase . For the latest, up-to-date trends, staking 1000 SANs is required)

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  • Donut/Donuts/Governance/Polls

Looking at the top performers on our list over the last couple days, you’d think the entire crypto crowd is on an epic pastry binge. Sadly, not the case - although the actual drama is still quite juicy.

Following yesterday’s announcement that you can now trade donuts (r/ethtrader karma) for ETH/DAI, the subreddit went on a short sugar-induced hype before crashing down hard, after realizing what this might mean for the subreddit’s governance:

“If Donuts are for sale, then we have no better signalling in here than an ETH coin vote” said u/HodlDwon: “I am all in favour of donating, but the transfer of Donuts in any capacity regrettably allows for the sale of donuts. This means EthTrader polls become game-able.”

And so the great Donut war of 2019 began.

Concerns grew larger about future Sybil attacks, and even Vitalik himself stopped by to share some words of caution:

Dozens of goverance polls flooded the subreddit since, followed by polls to ban all governance polls. The whole thing’s getting increasingly meta.

For those entirely indifferent to this whole donut business, u/DCinvestor does at least make a valid point:

You can keep up with the discussion over at the /r/ethtrader subreddit.

  • Etf/Withdrawn/Cboe/Vaneck (+ bullish)

Earlier today, Cboe Global Markets Inc. officially withdrew its application to list the first Bitcoin ETF (exchange-traded fund), blaming the U.S. government shutdown for their decision:

“Cboe’s decision to withdraw its filing with the SEC to list and trade shares of the VanEck SolidX Bitcoin Trust is a function of timing related to the U.S. government shutdown as the end of the review period approaches”

According to an email statement, Cboe does plan to resubmit the filing at a later date, so the withdrawal looks to be more of a precautionary measure than a serious bearish indicator. At least that’s what the crypto crowd is going with:

The BTC price did dip slightly following the announcement, tho not by much compared to most of the week’s action. Here’s a great overview of the news’ impact on BTC created by @petersik:

The lethargic price movement was welcomed by some as an additional sign for optimism:

  • Lun

Appearing on our list for a third day in a row, Lun’s bull run seems to be on its last leg.

At the time of our yesterday’s breakdown, the coin was up 22.52% for the day, and a mouthwatering 92.8% for the week. The last 24 hours have proven to be less kind to Lunyr, with choppy price action and a few significantly lower highs.

At the time of ‘print’, Lun was down 12.53% for the past 24hrs. Here’s a snippet of the crowd sentiment just before the bear took over:

  • Waves

Just as Lun started to head back south yesterday, Waves decided to break out and claim most of the bullish chatter for the day.

The coin leapt 24.33% in about 5 hours, making it one of yesterday’s top performers in the top 100. It’s met some sturdy resistance since, and is currently down 4.85% for the day.

The run might have been propelled at least in part by several ‘bullish’ announcements yesterday, including updates to the Waves client and the launch of a new, smart contract-powered game on the Waves platform.

  • Rvn

Another breakout story, as RVN hit a 2 week-high $0.0147 before correcting down. Down 2.21% for the day as of this writing.


:trophy: Shoutout to @petersik and @dindustries for helping with today’s analysis! :trophy:

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


#2

ETF - Bitcoin - withdrawn - CBOE - VanEck -> are the words connected with latest news on ETF approval. I have found 14 articles about the ETF in the last 12 hours. I have filtered some of them and provide more context in chronological order below.

Interesting finding from the chart is that the discussion about ETF on discord started before the news came out.

Blokt
Title: No Bitcoin ETF: Cboe Withdraws Proposed Rule Change to List Bitcoin ETF
Summary : Cboe have withdrawn their proposed rule change to list shares of the SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust.
Jake Chervinsky explained recently on Twitter that the government shutdown was not necessarily positive news in terms of the proposed Bitcoin ETF plans, and if anything, negative.

CCN
Title: Newsflash: CBOE Withdraws Bitcoin ETF Application
Summary : The cryptocurrency community’s best hope for a bitcoin ETF has been dashed, or at the very least delayed, as CBOE has withdrawn its application to list the VanEck SolidX Bitcoin Trust on CBOE BZX Exchange.
According to a document (reproduced below) published by the Securities and Exchange Commission (SEC) on Wednesday, CBOE withdrew its application to list the physically-backed bitcoin ETF on Jan. 22.

NewsBTC
Title: CBOE May Have Withdrawn Bitcoin ETF Filing to Avoid Automatic Rejection
Summary : Aleman, revealed that the Chicago Board Options Exchange (CBOE) had withdrawn its proposed rule change that would have facilitated the listing of VanEck and SolidX’s collaborative Bitcoin ETF.
According to a Twitter user, who cited a purported Wednesday CNBC interview with VanEck chief Jan, the company claimed that the withdrawal of the proposed rule change was related to fears that the application wouldn’t get a green light.
The Twitter user added that VanEck claimed that it needs more time to convince the SEC and other regulatory incumbents that Bitcoin’s market conditions can adequately support an ETF vehicle.
Jan Van Eck stated on air on CNBC ETF that it was because it wasnt getting passed and they needed more time to convince SEC about overseas bitcoin trading issues.
This news comes just days after Bitwise Asset Management and Wilshire Phoenix filed Bitcoin-related ETF proposals to the American financial regulator.

CCN
Title: Most US Investing Pros are Waiting on a Bitcoin ETF Before Buying Crypto
Summary : Filed last June, the official withdrawal of the application came in on January 22.
The very nature of cryptocurrency markets makes it difficult for the SEC to approve an ETF.
The continued delays by the SEC led a VanEck executive to recently say in frustration : According to the Bitwise Asset Management Team , most US investors are waiting on a Bitcoin ETF to get involved in the crypto space.

Ethereum World News
Title: Bitcoin ETF Hype Persists Despite VanEck, CBOE Debacle
Summary : Speaking on CNBC’s “ETF Edge” segment, VanEck’s namesake and chief executive, Jan Van Eck, claimed that due to the government shutdown, its partners and crypto division were unable to continue discussions with the SEC regarding market manipulation, custody, a lack of liquidity, along with other qualms.
The CNBC “Fast Money” panelist backed his comment by remarking that much remains “unresolved,” likely referring to the mass of concerns that the SEC has had with crypto markets historically.
In another report of ours , it was explained that a number of guests on CNBC Africa’s “Crypto Trader” segment were also skeptical of the approval of a U.S.-based Bitcoin ETF in 2019.

Now that the Cboe ETF is off the table, attention will switch to Bakkt as a possible catalyst for a market reversal.


#3

Interesting to see Lunyr trending more as there have been some solid uptrend signals coming in since the 18th.


^This being the first I noticed as MFI breached 80 coinciding with %B above .80 while price action on the daily broke above the BB SMA for the first time since Nov. 18’.

The 2nd signal came on the 21st as Daily Active Addresses jumped at the same time as Network growth. An entry on the 21st with an exit around the time Lun was the third most trending term (last night my time) represents a potential ~30% trade in profit. Not a bad bit of work from mixing a couple chart indicators and Santiment tools.