Santiment reports that Bitcoin (BTC) and Cardano (ADA) are leading the cryptocurrency discussion with market trends and updates, but are receiving mixed feelings from the community.
Bitcoin According to an update from market intelligence platform Santiment, Bitcoin and Cardano have emerged as the most talked-about cryptocurrencies, with the coins attracting significant public attention due to their ongoing developments and market trends.
🗣️ Here are the coins that saw the biggest increase in social interest earlier this week:$BTC: Bitcoin’s market cap ($1.377 trillion) is compared to Apple’s ($2.998 trillion) as bulls and bears battle it out over the $70,000 level$ADA: Smart Contract NFTs, Comparison with Ethereum, and the Growing Decentralization of the Cardano Network pic.twitter.com/X29gMj2Kd0
— Santiment (@santimentfeed) June 10, 2024
Cardano Smart Contract NFTs and Future Updates
Cardano has been at the forefront of public interest with discussions around smart contract NFTs and potential updates that will further decentralize the network.
Feelings about Cardano Similarly, optimism and skepticism are in balance. Bearish views are centered around concerns about the project’s founder, Charles Hoskinson, and competition from other projects such as Ethereum and BitShares. Doubts remain about Cardano’s ability to deliver on its promises.
However, bullish sentiment remains strong due to strong community support, ongoing development, and focus on scalability, interoperability, and sustainability.
We have also seen a significant transition from ADA to a single pool operator, with Cardano entering a crucial month with an update to node version 9.0 expected soon, paving the way for the long-awaited Chang fork.
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Bitcoin Market Cap and Sentiment Analysis
Elsewhere, Bitcoin Currently, Bitcoin is in a fierce battle between bulls and bears over the $70,000 mark. Bitcoin’s market cap is $1.377 trillion, almost the same as Apple’s $2.998 trillion. Sentiments surrounding Bitcoin are mixed, with bulls and bears.
Bears are concerned that the strength of the US Dollar Index (DXY) could lead to a drop in the prices of Bitcoin and Ethereum, and the comparison of the market capitalizations of Bitcoin and Ethereum has also become a hot topic of discussion.
Conversely, bullish sentiment is supported by positive price action suggesting potential parabolic moves, Bitcoin consolidating at its all-time high in 2021, dwindling supply on centralized exchanges, and strong community support.
Community response
The cryptocurrency community has responded positively to Cardano’s development, with enthusiastic supporters highlighting the platform’s strong fundamentals, strength of the brand, real-world use cases, decentralization, and active developer community.
The comments emphasize that Cardano and Bitcoin are a great combination, and there is the potential for Bitcoin smart contracts to be supported via Cardano.
These arguments are supported by Charles Hoskinson’s remarks He believes it is the most important milestone in Cardano’s history, and the June update is expected to bring major advancements, especially in the area of decentralization.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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