- To nobody’s surprise, Bitcoin is by far the most-discussed crypto token to kick off June.
- According to a Santiment analysis, the OG project is seeing a split between bullish and bearish sentiment.
- Surprisingly, the second-biggest trendsetter of June has been Charles Hoskinson’s DeFi brainchild Cardano.
- The popular project is seeing a renaissance across social media thanks to NFT smart contracts and continued on-chain development.
It should only take one guess to figure out the number one “trending” crypto network across social media this week.
That’s right – all roads lead to Bitcoin in the blockchain world.
However, according to a social media analysis from data team Santiment, a dark horse has staked its claim for the number two stop moving into the 2nd half of 2024.
Okay, no more suspense…it’s Cardano that has shot up the charts.
Related: Trader Who Nailed 2022 BTC Collapse Predicts Ethereum Rally, Says Bullish Continuation in Sight for Crypto Market
Cardano Heating Up As Scalability and Interoperability Development Continues
Bitcoin is by far the highest-trending coin, with close to 33% more “interest” than any other project on Santiment’s list. According to their analysis, the sentiment surrounding BTC is leaning slightly bullish, however is closer to 50/50 than in previous months.
This is reflected in the ranging market for Bitcoin through the past fortnight, where investors on both sides of the equation are fighting around the US $70K (AU $106K) mark.
Whenever crypto is relevant, so too is Bitcoin.
But the surprise packet of the analysis is Cardano, a project that’s been slowly evolving without much fanfare. The Charles Hoskinson project, although extremely popular, has been a bit of a disappointment to HODLers over the past couple of years, with the coin’s price still way down on its 2021 high.
However, ADA is up 60% over a 12-month period and continues to see impressive on-chain metrics. Developers are extremely active on the Cardano network, and the team’s higher-ups are dedicated to implementing scalability and interoperability solutions.
Cardano is demonstrating greater bullish sentiment than Bitcoin, hovering around the 66-70% mark according to Santiment. In particular, the project is in the spotlight thanks to its potential as a hub for smart contract NFTs.
Related: Arthur Hayes on 2024 Trading Strategy: “Its Easy Actually”
However, some investors remain trepidatious due to the outspoken nature of Cardano’s founder Charles Hoskinson. But the coin is incredibly popular for a reason, and if Hoskinson can make good on his vision Cardano has a bright future ahead.
Credit: Source link
