Cardano (ADA) blockchain has become more popular in 2022 due to the major upgrade coming to the top smart contract platform. In effect, Cardano (ADA) has recorded an increased social volume and market activity.
The LunarCrush AltRank™, designed to access a cryptocurrency’s community and traction and compare that across the entire cryptocurrency marketplace, has ranked Cardano (ADA) as number one out of 3870 coins across the market, in terms of social and market activity.
Data from LunarCrush showed that Cardano (ADA) had a social volume of 31,596 and social engagements totaling 73,826,715 as of September 4.
While market volume rating entails the measure of a currency’s market volume based on validated exchange volume, Social Volume ranking has to do with the measure of the unique volume across all LunarCrush’s data sources.
“Based on relative combined social + market activity, Cardano has hit AltRank™ 1 out of the top 3870 coins across the market,” the update read.
Based on relative combined social + market activity, @Cardano has hit AltRank™ 1 out of the top 3870 coins across the market.
— LunarCrush (@LunarCrush) September 4, 2022
Interest in Cardano (ADA) Spikes
As Cardano blockchain’s top upgrade nears, investors seem to be more attracted to the project. This can be evident in the recent LunarCrush Alt Ranking. Cardano’s improved scores imply that more members of the crypto community are closely interested in and following the crypto project.
This upgrade, which is codenamed Vasil, has been again scheduled for September 22 by the Cardano founder Charles Hoskinson and the Input Output Global developers team. This announcement comes after successful testing and having achieved all three metrics required for a successful upgrade.
It aims to make the Cardano blockchain more scalable and interoperable. It is also said that “the upgrade will bring enhancements to Plutus to enable developers to create more powerful and efficient blockchain-based applications.”
Following the numerous postponements of this upgrade named after Cardano’s ambassador and Bulgarian mathematician Late Vasil St Dabov, some Twitter users have expressed doubts about the upgrade execution on September 22.