Mooners and Shakers: Evmos pumps on upgrade and airdrop; SAND and SOL surge; Bitcoin hangs in above $20k
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Bitcoin and the crypto market are travelling okay today. Solana (SOL) and The Sandbox (SAND) are surging, while Cosmos-based interoperable chain Evmos (EVMOS) is pumping on the back of an airdrop.
Hmm, maybe US financial analyst Jim Cramer has been bashing crypto again. Could that be why it’s in reasonable shape over the past 48 hours or so?
Actually, he did tweet… but really, this could be taken any way the bulls or bears like…
— Altcoin Gordon (@AltcoinGordon) July 6, 2022
With the overall crypto market cap up 2.6% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.
According to Dutch trader/analyst Michaël van de Poppe, it’s a boring day in the crypto market, but we’ll take a bit of boredom over cliff diving…
Boring day, Dollar still shooting upwards, while the yields are consolidating.#Bitcoin sustaining here and looking ready for a big move relatively soon.
Cracking $20.2-20.4K is the critical one, looking towards $22.4K and $23K next.
— Michaël van de Poppe (@CryptoMichNL) July 6, 2022
A 7.1% daily increase isn’t so boring for layer 1 blockchain Solana (SOL), however. And if you compare its price performance with chief rival Ethereum (ETH) over the past 30 days, SOL is significantly outperforming, despite both being in the monthly red.
While taking into account that’s a heavily fluctuating metric, SOL is down about 6.7% in that time, while ETH has been hammered to the tune of 37%.
Solana’s transactional volume over the past seven days (630,000 transactions) is also reportedly crushing Ethereum’s (500,000), too.
And that all has plenty to do with Solana NFTs (e.g. Okay Bears and DeGods) continuing to gain market share, as well as comparatively much lower gas fees for minting on the Solana blockchain and on its most popular NFT marketplace, Magic Eden.
Ethereum vs. Solana: #NFT Trade Volume
Will Solana soon surpass Ethereum in the NFT sector? 👀 pic.twitter.com/EWD50gbyKv
— Waggle Insights | Crypto, NFT & Web3 (@waggleinsights) July 6, 2022
Sweeping a market-cap range of about US$7.8 billion to about US$381 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)
• Evmos (EVMOS), (market cap: US$554 million) +21%
• The Sandbox (SAND), (mc: US$1.57 billion) +10%
• Curve DAO (CRV), (mc: US$382 million) +8%
• Avalanche (AVAX), (mc: US$5.2 billion) +7%
• STEPN (GMT), (mc: US$568 million) +6%
So what is this Evmos we keep hearing about, and which we’ve yet to cover in any meaningful way in this column? It’s a proof-of-stake (PoS) protocol built on the Cosmos blockchain.
It’s essentially also a huge interoperability play for the Cosmos network as it’s designed to be an “application-agnostic Cosmos chain” compatible with the Ethereum mainnet and other Ethereum Virtual Machine (EVM) ecosystems.
The Evmos V6 upgrade was a success!
Congrats to @EvmosOrg and all validators for a smooth upgrade!
We will now see
👉 ~2 sec block times
👉 Min gas fee implemented
👉 Reduced congestion
👉 Improved stability
👉 Resolved airdrop claim issues!
Excited for whats coming next! pic.twitter.com/a3wzjqenjv
— ORBITAL APES ☄️ (@OrbitalApes) July 5, 2022
As for why it’s pumping? It’s just had a significant upgrade, increasing speed and lowering gas fees, and it’s also been going through an ongoing airdrop-claim process, which doesn’t hurt either.
You can claim, and/or check to see if you’re eligible for the Evmos “rektdrop” here. If you’ve interacted with Uniswap and OpenSea, for example, you may well be in for some tokenised goodness. Better claim soon, though, because a slow decay on the amount you may receive kicked in a few days ago.
The excellent airdrop-focused Twitter account Olimpio.lens provided some good information back in April on how to go about claiming…
⚡️ $EVMOS Airdrop Claimable ⚡️
The @EvmosOrg chain launched successfully, and now the Rektdrop is available. 🪂
Users from Cosmos and Ethereum are eligible.
Wallets that interacted with Uniswap, ENS, Opensea, and a lot of other protocols can claim now
Here is how to do it:
— olimpio.lens ⚡️ (@OlimpioCrypto) April 30, 2022
And as for big, blocky metaverse player The Sandbox (SAND), it’s continuing a strong recent run today, likely on the back of growing buzz for its “Alpha Season 3”. That’s an upcoming, multi-week play-to-earn event that will continue to build out the project’s open metaverse.
🔥 Top ranking virtual world game @TheSandboxGame has announced plans for a third play-to-earn alpha season in 2022 with some exciting NFT avatar features yet to be fully disclosed.
➡️ Check it out: https://t.co/BVvMNDVbap
— DappRadar (@DappRadar) July 5, 2022
• TerraClassicUSD (USTC), (market cap: US$490 million) -12%
• PAX Gold (PAXG), (mc: US$581 million) -3%
• eCash (XEC), (mc: US$816 million) -2%
• Synthetix Network (SNX), (mc: US$586 million) -2%
• Basic Attention Token (BAT), (mc: US$640 million) -1%
To finish, a selection of randomness that stuck with us on our daily journey through the Crypto/financial Twitterverse.
We think Kiwi YouTuber/analyst Lark Davis is on the money here regarding the latest crypto contagion casualty Voyager…
Voyager bankruptcy is the latest in month-long saga of lender collapse for #crypto.
Ask yourself for the ones still operating, are they ok, or just the last to fall?
And if you still have money on these platforms, then why? Especially now after all we have learned.
— Lark Davis (@TheCryptoLark) July 6, 2022
if you never miss a flight, you're spending too much time at airports
— SBF (@SBF_FTX) July 6, 2022
— Crypto Rover (@rovercrc) July 6, 2022
Some of you trade like this and I know it. pic.twitter.com/aCoWS8Ubl3
— Charlie (@btc_charlie) July 5, 2022
Looks like the big Sydney-based GameFi project Illuvium (ILV) has another mega NFT sale coming up – this one based around in-game avatar/profiles called Illuvitars. (Not financial advice, etc etc.)
Agreed. Concept team went beast mode on this product, also proud of the other teams that helped put it together ☺️ particularly UX/UI the shopping experience is cool af
— Kieran.eth ♊️ (@KieranWarwick) July 6, 2022
Meanwhile, did someone really just fork out US$210 MILLION for several shedloads of Shiba Inu (SHIB) tokens?
BREAKING: A whale has purchased 20 trillion $SHIB ($210,000,000), the largest transaction in Shiba Inu history.
— CoinHub (@CoinHubCC) July 5, 2022
And speaking of dog-meme-coin fans, we recently interviewed the quirky, DOGE-digging, New York-based crypto-rapper Rito Rhymes. Here he is busting out into a different musical genre… Daft Punk-tastic…
Doge Meme Anthem is officially released! Song's a #meme & Open-Sourced for you to use. With help, I remixed One More Time into a parody & homage to #doge memes everywhere. It's free to download & available as #NFTs on 4 blockchains https://t.co/it5vry3srphttps://t.co/LmLGiHkiDL
— Rito Rhymes (@Rito_Rhymes) July 6, 2022