Mooners and Shakers: Evmos pumps on upgrade and airdrop; SAND and SOL surge; Bitcoin hangs in above $20k

July 6, 2022 admin Uniswap 0

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Synthetix

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…

 

Top 10 overview

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…

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.

 

Uppers and downers: 11–100: EVMOS airdrop opp

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.)

DAILY PUMPERS

• 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.

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 airdrop 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…

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.

 

DAILY SLUMPERS 

• 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%

 

Around the blocks

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…

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.)

Meanwhile, did someone really just fork out US$210 MILLION for several shedloads of Shiba Inu (SHIB) tokens?

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…

 

 

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