Cardano Leads in Social Media Buzz Amid Key Developments
The data analytics company Santiment published a report saying that Cardano (ADA) and Bitcoin (BTC) have the highest social media involvement.
🗣️ The most rising coins in social interest to start the week are:$BTC: Bulls and bears battling at $70K level, and Bitcoin’s market cap ($1.377T) being compared to Apple’s ($2.998T)$ADA: Smart contract NFT’s, comparison to Ethereum, growing Cardano network decentralization pic.twitter.com/X29gMj2Kd0
— Santiment (@santimentfeed) June 10, 2024
Charles Hoskinson, the founder of Cardano, recently revealed the upcoming hard fork – Chang, which is expected to be a significant advancement not only for Cardano itself but for the entire cryptocurrency industry.
Cardano intends to introduce a new governance model under its ‘Voltaire’ phase roadmap designed to give the community more power. According to Hoskinson, this move will establish Cardano as the most advanced blockchain in terms of governance.
Many comments shared on social platforms indicate that people are positive about what may happen with Cardano going forward following this news release. Despite that however, the price of ADA rose by only 0.5% over the past day to maintain its position in market cap rankings at number 11 with $15.6 billion worth.
READ MORE: ZkSync Unveils a New Community-Driven Governance Model
Bitcoin has been receiving a lot of attention lately because of some recent price movements. Last week it failed to break above $72,000 due to strong employment data after which it dived down back to $67,100.
Also, Bitcoin managed to achieve its second highest weekly close ever which is something worth mentioning in the light of social media users’ frequent comparison between its market capitalization and that of major companies like Apple Inc., indicating an increasing presence within traditional finance sectors.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
