Cardano

bullish

Better

Cardano has been one of the better performers in the past 24 hours, increasing by as much as 4% and pushing above $0.35.
It appears that this move comes on the back of increased bullish sentiment for the cryptocurrency, unlike that of XRP – another altcoin with a massive community.
<h2 id="ripple-xrp-v-cardano-ada-sentiment-battles">Ripple (XRP) v. Cardano (ADA): Sentiment Battles</h2>
Data from the popular cryptocurrency analytics firm Santiment <a href="https://x.com/santimentfeed/status/1825789638570549612/photo/1" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">reveals</a> that the crowd sentiment for ADA has been flipping more bullish and has even outperformed popular altcoins such as XRP.
<figure id="attachment_355112" aria-describedby="caption-attachment-355112" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/sentiment_image.jpeg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-355112" src="https://cryptopotato.com/wp-content/uploads/2024/08/sentiment_image.jpeg" alt="sentiment_image" width="1518" height="796" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/sentiment_image.jpeg 1518w, https://cryptopotato.com/wp-content/uploads/2024/08/sentiment_image-300x157.jpeg 300w, https://cryptopotato.com/wp-content/uploads/2024/08/sentiment_image-1024x537.jpeg 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/sentiment_image-768x403.jpeg 768w, https://cryptopotato.com/wp-content/uploads/2024/08/sentiment_image-50x26.jpeg 50w" sizes="(max-width: 1518px) 100vw, 1518px"></a>
 <figcaption id="caption-attachment-355112" class="wp-caption-text">
 Source: Santiment
 </figcaption>
</figure>
The firm’s metric is Weighted Sentiment, a well-known indicator that also takes social volume into account. Social volume keeps track of the total number of social media and internet posts related to a certain cryptocurrency. Additionally, it weighs sentiment balance against social volume to ensure that the number of users participating in the discussion is moving in the same direction.
<h2 id="incoming-cardano-hard-fork-the-reason">Incoming Cardano Hard Fork the Reason?</h2>
As the above chart notes, ADA is currently at its highest positive sentiment of 2024, which has a slump of 47% in 5 months. Part of the reason behind this could be the fact that there’s an important upcoming hard fork scheduled to take place later in August.
As&nbsp;CryptoPotato&nbsp;reported earlier today, the Chang Hard Fork will take place on August 27th.
<blockquote>
 “However, the current indications suggest&nbsp;the 27th of August&nbsp;is viable, and that is what the hard fork working group technical teams are working towards.&nbsp;Pre-production will be a hard fork on&nbsp;the 22nd of August&nbsp;in preparation,” the disclosure&nbsp;<a class="editor-rtfLink" href="https://x.com/IntersectMBO/status/1825946121765896609" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">reads</a>.
</blockquote>
This is an upgrade that’s designed to improve decentralization and progress toward community-driven governance. It’s a part of the Voltaire era in Cardano’s roadmap. The latter is focused on implementing a governance framework that’s both distributed and sustainable.
The post <a href="https://cryptopotato.com/ripple-xrp-bulls-on-the-back-foot-cardanos-sentiment-is-better/" rel="noopener noreferrer nofollow">Ripple (XRP) Bulls on the Back Foot: Cardano’s Sentiment is Better</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Ripple (XRP) Bulls on the Back Foot: Cardano’s Sentiment is Better

Table of Contents

CryptoPotato_News

Other articles published on Aug 21, 2024

Trump Profits from NFTs

Memereum and Super Trump Coin Lead the Pack, But Is There a Dark Horse Emerging – MoonBag

Tron (TRX) Price Jumps 10%, Outperforms Major Altcoins

Find Why MoonBag Is Best Crypto Presale While Exploring SHIBASHOOT’s & DOGE’s Growth

Key Date for Cardano (ADA) Holders: Hard Fork Launch Imminent

Aave Launches on Era Mainnet Powered by ZKsync

Join our free newsletter for daily crypto updates!