Cardano (ADA) dominates social media discussions

Cardano (ADA) dominates social media discussions

According to data provided by cryptocurrency analysis firm Santiment, Cardano (ADA) and Bitcoin (BTC) are to the head when it comes to social media engagement.

According to data provided by cryptocurrency analysis firm Santiment, Cardano (ADA) and Bitcoin (BTC) are to the head when it comes to social media engagement.

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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 is shaping up to be the most significant update for both Cardano and the industry as a whole.

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.

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His bullish post sparked strong engagement on social media, with most social media users expressing bullish sentiment. However, this rumor has not translated into any significant benefits for ADA. The native Cardano 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 discussed 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. At press time, it is changing hands at $69,920, with bulls and bears fighting over the pivotal $70,000 level.

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The flagship cryptocurrency too generated some buzz on social media after earning its second-highest weekly close to date.

According to Santiment, social media users also frequently compare Bitcoin’s market capitalization to that of large companies like Apple.

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