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Cardano (ADA) dominates social media discussions
Alex Dovbnja
Cardano (ADA) and Bitcoin (BTC) are dominating social media discussions this week
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According to data provided by cryptocurrency analytics firm Santiment, Cardano (ADA) and Bitcoin (BTC) are ahead 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 Chang’s hard fork. According to Hoskinson, the aforementioned hard fork promises to be the most significant update for both Cardano itself and the industry in general.
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 triggered strong social media engagement, with most social media users expressing bullish sentiment. However, this buzz has not translated into any significant gains for ADA. Cardano’s native token is up just 0.5% in the last 24 hours. It remains in 11th place with a market capitalization of $15.6 billion.
Meanwhile, Bitcoin is being talked about precisely because of its recent price action. Last week, the largest cryptocurrency by market capitalization failed to break above the $72,000 level due to strong employment data. As of this writing, the price is changing hands at $69,920, with bulls and bears battling for the crucial $70,000 level.
Also the flagship cryptocurrency generated some buzz on social media after achieving the second best weekly closing score to date.
According to Santiment, social media users often compare Bitcoin’s market capitalization to that of large companies like Apple.
About the author
Alex Dovbnja
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the burgeoning industry, from price analysis to Blockchain disruption. Alex has authored more than 1,000 stories for U.Today, CryptoComes, and other fintech media. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets; he can be contacted at alex.dovbnya@u.today.