According to data from TapTools, a Cardano-based analytics platform, social engagement on the blockchain platform Cardano has spiked significantly over the past seven days.
Cardano’s social engagement surpassed 457.99 million in the past week, which is not a far-fetched number, as another social analytics platform, LunarCrush, also highlighted Cardano’s surge in social engagement.
On May 11, LunarCrush announced that Cardano was the “Coin of the Day” for its leadership in social engagement.
The increase in Cardano’s social engagement could be attributed to the growing discussion surrounding its ecosystem.
This week, Cardano has seen a series of ecosystem developments and new releases. Earlier this week, Cardano node v.8.0.0 was released, bringing new governance actions. The Cardano community has been actively discussing the release and its impact on the network.
In addition to new releases, increasing discussions about its ecosystem have also driven Cardano’s social engagement.
The platform’s ecosystem is always expanding, with more projects being developed and launched on the network. For example, decentralized lending protocol Liqwid Finance has announced plans to launch on Cardano. The protocol aims to bring lending to the Cardano ecosystem and provide a more inclusive financial system.
The surge in Cardano social engagement also highlights growing interest in blockchain and cryptocurrencies. As the adoption of blockchain technology continues to expand, more and more people are becoming interested in cryptocurrencies and the potential of their underlying technology.
Cardano’s surge in social engagement is a testament to the platform’s growing popularity and growing interest in the blockchain and its applications.
Additionally, the rise in Cardano’s social engagement reflects broader trends in the cryptocurrency market. The market has been going through a bull run in recent months, with many cryptocurrencies hitting new all-time highs.
This trend has attracted more attention and participation to the cryptocurrency market, which in turn has driven social engagement in many cryptocurrencies, including Cardano.