The Binance Smart Chain (BSC) is known for a number of of interesting projects that sometimes have quite a lot of social buzz and Grand Theft Autofarm takes the lead when it comes to it.
With more and more DApps starting to build on the BSC blockchain, social signals for some of these projects have also started to tick off.
How Social Buzz Plays a Huge Role in Cryptocurrency
Social buzz plays an enormous role when it comes to cryptocurrencies as seen in the rise of Dogecoin and Shiba Inu. It can be seen that the memecoin phase showed the world that sometimes, a solid project does not always matter. Instead of providing actual utility, Dogecoin toyed with the idea of cryptocurrency as a true memecoin.
Nowadays, most projects have utility and, although there are memecoins here and there, the top 10 BSC blockchain projects by social signal mostly have their own function. As listed by Ben GCrypto, Grand Theft Autofarm topped the list with 196,136 social signals, followed by PancakeSwap with only less than a third of its social signals.
Here are the Top BSC Projects Based on Social Signal:
Grand Theft Autofarm
-
Social Signal: 196,136
PancakeSwap
-
Social Signal: 64,068
0x1 Finance
-
Social Signal: 27,117
LZ Swap
-
Social Signal: 22,493
LZ Pool
-
Social Signal: 22,383
ApeSwap
-
Social Signal: 16,293
Rune
-
Social Signal: 16,204
NFTb
-
Social Signal: 14,895
Pancakebunny
-
Social Signal: 11,559
TEN
-
Social Signal: 10,006
Top 10 Binance BSC blockchain applications including DApps
More and more dapps starting to build their products on Binance Smart Chain. And some of them have already shown a great increase in its onchain users and volume.$CAKE $LZ $BANANA $NFTB $BUNNY pic.twitter.com/7D4BEYbCkZ— Ben GCrypto (@GCryptoBen) January 26, 2022
The data was reportedly taken from dapp.com, which shows the growth and decline of social signals for many different types of tokens. One thing that really stands out on the website is Decentraland, which has grown 15,02.47% in terms of social signal strength.
The website also showcases new projects along with an accompanied caution if it is high risk, moderate risk, or low risk. Just like any other project, buyers should DYOR before purchasing any tokens.
Read Also: SOL Tops in Total Staked Value at $36 Billion with ADA Following | ETH in 3rd Place?
How to DYOR with New Tokens
One way to research is to look for the TXid of the coin and search its transactions on Etherscan. This way, buyers will know how the liquidity works. Should the liquidity be all in one address or in just a few addresses, this could signify a greater risk.
It is important to note that social signals are not a 100% guarantee that the token will go up in price since sometimes, bots can get in the way. One technique a lot but not all of new token do is using bots to spam social platforms mentioning the token.
It is still unknown as to which direction Grimace Coin, for example, will go and how will it go on in the future and if it can compete with other coins or meme coins. As of press time, there is not yet that much data on GRIM since it is not yet listed on CoinGecko and CoinMarketCap.
Related Article: IMF Urges El Salvador to Remove Top Crypto as Legal Tender | Regulations for E-Wallet Also Asked
This article is owned by Tech Times
Written by Urian B.
