According to Justin Sun (@justinsuntron) on Twitter, rumors about the Pope being elected onchain have fueled heightened attention toward blockchain governance tokens and related cryptocurrencies. While the claim is satirical, Sun’s tweet has triggered increased search volume and social media discussions around real-world asset tokenization and the adoption of onchain voting mechanisms, leading to short-term upticks in governance token trading volumes such as UNI and AAVE (Source: Twitter/@justinsuntron, CoinGecko trading data). Traders are monitoring governance altcoins for volatility as onchain governance narratives trend online.

According to BitMEX Research, during The Blocksize War, several onchain votes occurred, although participation was notably low. A significant event was when Roger Ver acquired the main voting website, prompting some small blockers to create their own onchain voting systems to avoid the influence of the centralized site.