July 2, 2022

Cardano’s Social Engagement Surpassed Bitcoin as ADA Broke ATH Nearing $3

2 min read

With Cardano’s price skyrocketing to brand-new all-time highs, the asset has amassed the attention of the cryptocurrency crowd. On-chain data from social networks platforms confirmed that ADA had become the most talked-about digital property in the previous few days.

ADA Takes Over Twitter

It’s safe to say that Cardano’s native cryptocurrency has actually been on a roll since the start of the year. Looking at a more micro-scale, indicating in the past month, ADA has blown out of the water most of its rivals.

Back on July 20th, when the whole market corrected, it disposed below $1. This came after taking off by more than 1,200% in the very first couple of months of 2021.

After the enormous retracement, though, ADA began to go back to its splendor days quickly. It doubled in value in a few weeks, kept climbing, and broke above its previous ATH simply recently, as reported.

Nevertheless, it didn’t stop there and continued north. Just hours ago came the most recent record at $2.95 (on Bitstamp). Being 194% up because July 20th and more than 1,500% up YTD has, somewhat expectedly, captured the attention of the neighborhood.

Santiment reported that the variety of mentions of the Cardano and ADA hashtags went through the roof on Twitter during the weekend. The analytics business indicated that this growing engagement “will have a major hand in whether rates continue towards $3 and beyond.”

Twitter Mentions of ADA and Cardano. Source: Santiment

Twitter Mentions of ADA and Cardano. Source: Santiment later on updated that the number of Twitter discusses even gone beyond those of bitcoin, although the main digital asset spiked above $ 50,000 for the very first time considering that May. Room for More Attention? While the short-term Twitter engagements blew up over the weekend, Google trends data reveals that there might be more attention coming.

The variety of Cardano (or ADA) queries on the world’s largest online search engine have definitely gotten lately, as the graph below shows. Nevertheless, they are still far away from the May peak when ADA reached its ATH at that time.

Considering that Google patterns is typically an excellent sign for retail financiers’ habits, it’s safe to presume that they haven’t gotten here completely yet. Keeping that in mind, ADA’s cost could undoubtedly intend higher if the previous mania returns, much like Santiment suggested.

Worldwide Cardano Google Searches 12M. Source: Google Trends
Worldwide Cardano Google Searches 12M. Source: Google Trends