Main navigation

Cardano (ADA) Social Engagements Skyrocket to 457 Million, Here Might Be Reason

Sat, 05/13/2023 - 17:44
article image
Tomiwabold Olajide
There has been surge in social engagements for Cardano
Cardano (ADA) Social Engagements Skyrocket to 457 Million, Here Might Be Reason
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to TapTools, a Cardano-based analytics platform, Cardano has seen a surge in its social engagements in the last seven days.

It reports that Cardano has had over 457.99 million social engagements in the last seven days.

This is not far-fetched, as social analytics platform LunarCrush highlighted a surge in Cardano's social activity. On May 11, LunarCrush declared Cardano the "coin of the day" as it topped social performance.

Cardano's social engagement rise might have been triggered by increased discussions regarding its ecosystem. This week, Cardano saw a slew of ecosystem developments and new releases.

Earlier in the week, Cardano node v.8.0.0, which brings a new governance action that facilitates conducting on-chain SPO polls, was released.

The week also saw the release of the first mainnet-compatible node version of the scaling solution Hydra.

Lace 1.1.0, which brings several improvements and features for a better user experience, also saw its debut. With the new release, users would be able to recover their wallets using a 12- or 15-word recovery phrase and view the prices of their available native tokens.

Mithril's team also released a new 2318.0 distribution while Project Catalyst held its 125th town hall.

Cardano saw a wave of meme coin mania as discussions regarding the newly launched Cardano-based meme coin SNEK increased.

Cardano Founder Posts Unusual Tweet About Meme Coin 'SNEK'

Cardano founder Charles Hoskinson got so curious about the attention that the meme coin generated that he tweeted, "What the heck is this Snek thing that people keep tweeting about?"

Hoskinson later emphasized that he does not personally own any NFTs and has never been asked to promote an NFT project, hinting that he was just having fun, drawing from the recent meme mania in the market.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.