Cardano Google searches hit the yearly high according to the data from Google Trends about which we are reading more in the Cardano ADA news. The increase in interest for the promising blockchain platform follows the on-chain strength of the network and the major developments from IOHK all of which indicate that ADA is set for a bull rally soon.
With all of the promises made by the platform remaining the same over the past five years, it seems that Cardano finally became the center of attention. The Shelley network upgrade that will bring staking to the platform is now getting closer than ever which will put Cardano right at the forefront of the market. The testnet for Shelley was opened for all of the stake pool operators earlier this week which brought a lot of attention to the platform.
The data from the analytics company LunarCrush shows that more than 6000 social media posts mentioned Cardano over the past day. The metric’s measuring all over the social engagements show that there were more than 10.7 million posts, retweets, and comments across social media. Cardano Google searches also spiked up as the data from Google Trends shows that searches for the platform are the highest that they were in the past two years. All of the online traction Cardano gets comes from the time the network saw an increase in strength. Some blockchain analysts from IntoTheBlock reported that more ADA addresses now hold the coin than ever before, and the number surpassed 385,000 later last week.
The increase in popularity only confirms that ADA is becoming less concentrated over time which shows that coins are leaving the whales and go into the retail users. This doesn’t mean that institutional money doesn’t go into Cardano since the latest ADA surge was most likely fueled by the larger investors. The Data from IntoTheBlock shows that 7 billion worth of ADA coins was transacted by large holders on May 31 alone.
Three of the seven core metrics of the company such as the Smart Price, Net Network Growth, and Bid/Ask Volume imbalance, are now bullish which only adds to the bull case. The overall social sentiment towards Cardano is 80 bullish according to the LunarCrush data which only confirms that ADA could up for interesting months ahead.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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