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The native utility token of the Loom Network, LOOM, has been constantly registering significant gains over the past month. LOOM is up 725% in the past 30 days and gained 123% over the past week alone. As the consistent upward momentum continues, LOOM’s price-daily active addresses (DAA) divergence shows a strong buy signal at 840%.  LOOM price, whale activity and social activity – Oct. 16 | Source: Santiment The indicator triggers the “buy signal” when the number of active addresses and an asset’s price rise, according to the market intelligence platform Santiment. This could suggest lower volatility since the market cap of LOOM is in the hands of smaller investors rather than just whales.  You might also like: Binance CEO, colleagues face potential indictment in Brazil Despite the hike in the number of daily active addresses, the number of whale transactions consisting of at least $100,000 worth of LOOM has also surged by 15% in the past 24 hours, reachin...

The newly famed meme coin in the market, HarryPotterObamaSonic10Inu, has constantly fallen over the past week while its social dominance witnessed a small rise. Santiment data shows that HarryPotterObamaSonic10Inu was developed in mid-May with the “BITCOIN” ticker and a starting price of around $0.002. Since then, the asset has risen by more than 6,300% and reached an all-time high (ATH) of $0.1977 on Aug. 20. HarryPotterObamaSonic10Inu price, whale activity and social dominance – Aug. 23 | Source: Santiment However, the meme coin, dubbed “the people’s Bitcoin” on social media, has plunged 19.3% in the past 24 hours. The drop comes despite a high 24-hour trading volume of $16.7 million, a 12.2% rise. You might also like: Shibarium announces its fourth upgrade On-chain data shows that HarryPotterObamaSonic10Inu’s market capitalization has reached $129 million with 10,760 unique addresses holding the asset. The so-called “people’s Bitcoin” is trading at $0.126 at th...

Makoto Inoue highlighted that Web3 socials are not limited to online platforms but can also be applied offline, putting records of having met people in the blockchain. As decentralized social media becomes one of the central topics at the Buidl Asia event held in South Korea, Cointelegraph spoke with Ethereum Name Service (ENS) developer Makoto Inoue onlineto find out more about Web3 social media , its potential to replace Web2 and the roles of ENS and the metaverse in this new social media paradigm.  According to Inoue, Web3 is “inherently social and distributed.” The developer highlighted that since it’s built on top of the blockchain, everything is transparent. This makes the blockchain a “social graph,” a graph commonly used to represent the interconnectedness of relationships in an online social network.  “It's already inherently permissionless and social . That's where ENS fits into. It's transparent but the addresses are human-readable. And by having the ENS...