Cardano Leads in Social and Market Activity Among 3,954 Crypto Assets As Price Rise

Cardano has attained an AlternativeRank of 1 out of 3,954 mainstream assets about social and market activities.

Cardano (ADA) has been taking advantage of the recent relief rally noticed within the broader crypto market as it exceeds the $0.40 level. As recently revealed by Lunar Crush, Cardano’s social and market activities have seen a surge amid these propitious moves.

ADA recently claimed an AlternativeRank position of 1 amongst the 3,954 mainstream cryptocurrencies assessed by Lunar Crush, the crypto social intelligence platform mentioned in a recent tweet. As is customary, Lunar Crush’s AlternativeRank considered the combined market and social activities of all the assets in its assessment.

“Based on relative combined social + market activity, Cardano has hit an AlternativeRank™ of 1 out of the top 3,954 coins across the market,” Lunar Crush noted in a tweet Wednesday. The social intelligence platform also shared a dashboard disclosing further information on the asset’s social and market activity metrics.

Based on relative combined social + market activity, Cardano has hit an AlternativeRank™ of 1 out of the top 3,954 coins across the market.

One-week activity:
Shared links: 43.31K +8.9%
Social mentions: 206.2K +8.44%
Social engagements: 536.29M +12.78%https://t.co/YHBrYm9Mu5 pic.twitter.com/QTmrJLWjNf

— LunarCrush (@LunarCrush) October 26, 2022

The latest rank of 1 out of 3,954 recently gave ADA an average rank of 49 out of 3,954 in all-time rankings, which saw the asset jump nine places above its previous average rank.

Additionally, data from Lunar Crush revealed some outstanding improvements in Cardano’s social activity in the past week. The shared links count relating to ADA saw an 8.9% increase in the past week, sitting at 43.31K at the assessment time.

Furthermore, Cardano’s social mentions had risen to 206.2K, soaring 8.44% in the past week. Social engagements, in general, rose by 12.78% to a value of 536.29M. These metrics suggest a massive boost in Cardano’s social activity as more attention is poured into the asset.

Besides its surging social activity, Cardano’s price change has placed the asset amongst the top-gaining tokens in the market, as it secures a position of 304 out of the 3,954 assessed tokens in terms of price change. In addition, ADA was ranked 11th out of 3,954 in terms of trading and social volume. ADA secured 10th position in social score.

This surge in social and market activity indicates renewed investor interest in the asset, as prompted by recent developments surrounding it.

Cardano’s founder, Charles Hoskinson, recently teased ADA holders regarding some upcoming good news. Hoskinson took to Twitter to inform proponents of “something special” coming in November. Shortly after that, Hoskinson disclosed some interesting information regarding Cardano’s goal of maintaining decentralization. Hoskinson noted that SPOs could run nodes on the Cardano network on budget-friendly PCs, highlighting an $800 Beelink Mini PC in particular. Additionally, The Crypto Basic previously reported the trend of Cardano adoption by top gaming developers.

Meanwhile, ADA has been making silent moves in its price actions under this favorable climate. The asset has gained by 15.41% in the past week, changing hands at $0.40 as of press time.

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