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

Cardano

A Cardano-based analytics company called TapTools reports that in the previous week, Cardano’s social interactions have increased.

The previous seven days have seen more than 457.99 million social interactions with Cardano, according to the research.

This is plausible because social analytics tool LunarCrush noted a rise in Cardano’s social engagement. Due to its outstanding social performance on May 11, Cardano was named the “coin of the day” by LunarCrush.

Increased conversations about Cardano’s environment may have been what spurred the spike in social engagement. Cardano had several ecosystem advancements and new releases this week.

Cardano node v.8.0.0, which introduces a new governance action that makes it easier to conduct on-chain SPO polls, was published earlier in the week.

The scaling solution Hydra’s first mainnet-compatible node version was also made public this week.

Also released was Lace 1.1.0, which has a number of enhancements and additions for a better user experience. Users will be able to examine the values of their available native tokens and recover their wallets using a 12- or 15-word recovery phrase with the new version.

The 2318.0 distribution was also made available by Mithril’s crew during the 125th Project Catalyst town hall.

As talk about the recently released Cardano-based meme currency SNEK grew, Cardano saw a wave of meme coin fever.

Charles Hoskinson, the inventor of Cardano, asked, “What the heck is this Snek thing that people keep tweeting about?” after being intrigued by the attention that the meme coin garnered.

Later, Hoskinson clarified that he does not personally own any NFTs and has never been approached to promote an NFT project. He also hinted that he was only amusing himself by referencing the current meme craze in the market.

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