Cardano has seen a significant surge in its social engagement over the past week, according to TapTools, a Cardano-based analytics platform. The platform reported that Cardano had over 457.99 million social engagements in the last seven days, indicating a strong interest in the cryptocurrency’s ecosystem.
This surge in social engagement comes as no surprise, as LunarCrush, a social analytics platform, highlighted a significant increase in Cardano’s social activity. On May 11, LunarCrush declared Cardano the “coin of the day” as it topped social performance, indicating a surge in interest in the cryptocurrency.
The rise in Cardano’s social engagement can be attributed to the recent developments in its ecosystem. Over the past week, Cardano saw a slew of ecosystem developments and new releases, including the release of Cardano node v.8.0.0, which brought a new governance action that facilitates conducting on-chain SPO polls.
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, further fueling interest in Cardano’s ecosystem. Additionally, the launch of a new Cardano-based meme coin, SNEK, has also generated a lot of attention in the market. Cardano founder Charles Hoskinson even tweeted about the meme coin, drawing from the recent meme mania in the market.
Despite the surge in interest, Hoskinson emphasized that he does not personally own any NFTs and has never been asked to promote an NFT project, indicating that he was simply having fun with the recent meme mania in the market.
In conclusion, Cardano’s recent surge in social engagement is indicative of the strong interest in the cryptocurrency’s ecosystem. With a slew of ecosystem developments and new releases, along with the launch of a new Cardano-based meme coin, Cardano’s social engagement is likely to remain high in the coming weeks.