During the recent bear market, a social media vote was opened to measure the strength of several coin communities. The #altcoinblitz hashtag finally pitted Electroneum (ETN) against TokenPay (TPAY).
The competition was heated, by the large Electroneum community, which still supports the asset despite the disappointing price performance - and TokenPay (TPAY), a payment system project and one of the partners of Verge (XVG) and Litecoin (LTC).
In the semi-finals of the voting, it turned out TokenPay had used faked votes - and when discovered, went back and gave faked votes to Electroneum. Unfortunately, TokenPay was disqualified.
In the latest round of voting, Electroneum is in a stand-off against the Linda project:
Linda (LINDA) is also a highly volatile coin trading at $0.001, an asset known for its sharp pump-and-dump events, but also a strong and supportive community.
Electroneum made its bid in being a coin generated by simulated mobile phone mining. However, the low-volume trading depressed the price from a peak of $0.20, down to $0.007. The Electroneum project also had glitches with its wallets, as well as a weeks-long mining freeze. But the chance to mine on mobile seems to be making this coin rather popular - as well as the opportunity for amateur CPU mining.
The Electroneum network has also allowed the inclusion of CryptoNote ASIC miners, inflating the hashrate.
The organizer of the competition, Chris Wallace, @cryptobullwhale, is an active speaker on crypto social media, bringing attention to altcoins and trading opportunities. In his latest rounds of voting, several communities were brought together and showed their strength in voting.
What is curious is that the collected statistics shows that larger, better-known coins have almost not bothered to vote, while Linda and Electroneum have very active communities, mining and holding onto the coins with expectations of potential future gains.
After the latest market crash, altcoins still look relatively attractive for a small-scale investment. But the enthusiasm of the communities does not always match the price action.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.