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When Elon Musk speaks, the cryptocurrency markets listen. After announcing that he personally owns Doge, Ethereum, and Bitcoin, Elon Musk’s announcement helped many of the top cryptocurrencies experience a nice price increase for the week and end in the green. In this post, I’ll share my thoughts on the matter as well as sharing some news on the upcoming Splinterlands SPS token airdrop, Alien Worlds getting over one million users, and JustSwap on the Tron blockchain surpassing QuickSwap on Matic.
The Musk Magic Continues
Since this is a weekly update post, I'll do my best to be a bit more brief than normal and hit the key points. Although Elon Musk tends to change his mind and offer mixed signals for the crypto market, it is clear that the crypto markets still follow his lead and after he pumped ETH, DOGE, and BTC this week, all three of the coins that he mentioned finished out the week with pretty significant gains. No matter how many times Elon flip flops or changes his mind, it appears that he still exerts a very powerful influence in the crypto markets.
In the blockchain gaming world, we've got two huge announcements. The Alien Worlds blockchain based game had over 1 Million unique wallets use the platform in the past 30 days. That is an absolutely huge number of players and makes it second only to PancakeSwap in terms of unique users. Although Alien Worlds has been plagued by bugs, glitches and delays in the rollout of many anticipated features, it's great to see that many wallets interacting with the protocol and I think that it shows the resilience of blockchain based games.
In other gaming news, Splinterlands has announced that the SPS governance token will be launched/airdropped on the 26th. Although I hope to do a full write up on the SPS token launch, its worth mentioning a few details here. The SPS token is an airdrop that will be allocated to players depending on the amount of Splinterlands assets that they own. Instead of a one time snapshot, the token will be airdropped over a period of 365 days which means players can increase their daily drop by holding more Splinterlands assets. Initial liquidity for SPS will be provided on PancakeSwap, and users will also have the ability to stake the SPS token to earn passive returns.
Tron Taking Over?
As someone who uses the Tron blokcchain frequently, I'm impressed (but also surprised) to see this news that JustSwap (Tron) has overtaken QuickSwap (Matic/ Polygon) in terms of active users. With the high ETH gas fees, I wouldn't be surprised to see users leave ETH for Tron, but considering that Matic fees are incredibly low, I'm really not sure what is causing Tron to experience greater growth than Matic. Feel free to leave any speculations in the comments.
Although there is certainly more crypto news for the week, these are some of the big articles that caught my attention. As always, feel free to share any comments, suggestions, or interesting crypto news in the comments so we can all stay up to date together. As always, thanks for reading, and nothing is financial advice.