The Cardano (ADA) blockchain has become more popular in 2022 due to the major upgrade of the best smart contract platform. Indeed, Cardano (ADA) saw an increase in social volume and market activity.
The LunarCrush AltRank™, designed to access the community and traction of a cryptocurrency and compare that across the entire cryptocurrency market, has class Cardano (ADA) as number one out of 3870 coins on the market, in terms of social and market activity.
LunarCrush data showed that gimbal (ADA) had a social volume of 31,596 and social engagements totaling 73,826,715 as of September 4.
While Market Volume Scoring involves measuring a currency’s market volume based on validated trade volume, Social Volume Ranking involves measuring single volume across all LunarCrush data sources.
“Based on combined relative social + market activity, Cardano achieved AltRank™ 1 out of the top 3870 coins in the market,” the update read.
Based on relative combined social + market activity, @Cardano achieved AltRank™ 1 out of the top 3870 coins on the market.
— LunarCrush (@LunarCrush) September 4, 2022
Interest in Cardano (ADA) spikes
As Cardano’s blockchain upgrade nears, investors seem to be more drawn to the project. This may be evident in the recent LunarCrush Alt Ranking. Cardano’s improved scores mean that more members of the crypto community are taking an interest in and following the crypto project.
This update, which is codenamed Vasil, has again been scheduled for September 22 by Cardano founder Charles Hoskinson and the team of developers at Input Output Global. This announcement comes after successful testing and after obtaining the three measures 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 build more powerful and efficient blockchain-based applications.”
Following the numerous postponements of this name update by Cardano ambassador and Bulgarian mathematician Late Vasil St Dabov, some Twitter users have expressed doubts that the update will run on September 22.