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Cardano (ADA) Dominating Social Media Discussions

June 10, 2024
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According to data provided by cryptocurrency analytics firm Santiment, Cardano (ADA) and Bitcoin (BTC) are in the lead when it comes to social media engagement.

As reported by U.Today, Cardano founder Charles Hoskinson announced that the proof-of-stake network was on the verge of the Chang hard fork. The aforementioned hard fork is shaping up to be the most significant update both for Cardano itself and the broader industry, according to Hoskinson.

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During the "Voltaire" phase of the roadmap, Cardano will implement a new governance model that will put the community in charge. Hoskinson is convinced that Cardano will have the most advanced governance system among all blockchains.

His bullish post ignited strong social media engagement, with most social media users expressing bullish sentiment. However, this buzz has not translated into any meaningful gains for ADA. Cardano's native token is up only a mere 0.5% over the past 24 hours. It remains in 11th place with a market capitalization of $15.6 billion.

In the meantime, Bitcoin is being discussed precisely due to its recent price action. Last week, the largest cryptocurrency by market cap failed to top the $72,000 level last week due to strong jobs data. At press time, it is changing hands at $69,920, with bulls and bears battling for the pivotal $70,000 level.

The flagship cryptocurrency also generated some social media buzz after scoring its second-highest weekly close to date.

Social media users are also frequently comparing Bitcoin's market cap to major companies such as Apple, according to Santiment.

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Disclaimer: Information found on cryptoreportclub.com is those of writers quoted. It does not represent the opinions of cryptoreportclub.com on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
cryptoreportclub.com covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023-2025 Cryptoreportclub. All Rights Reserved