Google Trends show that interest in the search term “Buy Cardano” has hit a 3-month high
As of May 26, the keyword “Buy Cardano” on Google reached a peak on August 22. Furthermore, the research indicated that Lebanon is the country most interested in the third-largest cryptocurrency in market cap, followed by Qatar and Slovenia.
Interest in the keyword “buy Cardano” on Google hits 3-month high
In addition, Singapore, Lithuania, Canada, Israel, the United States, New Zealand, and Norway make up the remaining top 10 countries that used the search term. Many reasons contributed to the increased interest in crypto markets in August, including Bitcoin price breaking through the $50,000 threshold again as market sentiment changed.
However, given the strong BTC rally, the surge in interest in the cryptocurrency market in August also increased. And as a result, Cardano also benefits significantly. Its annual return is 1.324%, higher than that of Bitcoin and Ethereum.
Due to the recent price increase, Cardano is currently the third-largest cryptocurrency by market capitalization, surpassing Binance Coin (BNB). Its latest price increase corresponded with the news of the forthcoming ‘Alonzo’ update as smart contracts are scheduled to be brought to the blockchain with the September release.
Market capitalization-wise, Cardano was one of the top 100 cryptocurrencies gainers in the last seven days. Still, the cryptocurrency has recently suffered a significant collapse after reaching all-time highs in value. ADA’s market capitalization of $82 billion at the current price of $2.58; is currently down 5% in the last 24 hours.
ADA/USD 4-hour chart | Source: TradingView
Recently, ADA has consistently had good news; as AZCoin News reported, Tokyo-based Bitpoint became the first Japanese exchange to enable ADA trading, following the clearing of regulatory barriers.
As it competes with Ethereum’s DeFi ecosystem, Cardano aims to transform its blockchain into an interoperable one. The latest round of Project Catalyst, Fund6, gained impressive popularity among ADA enthusiasts in another development. Hundreds of ideas have been submitted for community review.
According to a recent official announcement shared in IOG’s social media channels, the sixth phase of Cardano’s Project Catalyst has reached an amazing milestone.
#ProjectCatalyst Fund6 idea submission is now closed.
A record-breaking amount of project proposals submitted in this round-814?Yes, that’s 814
— Input Output (@InputOutputHK) August 26, 2021
Its proposal campaign, in which all Cardano-focused decentralized applications developers were asked to send their ideas for review, is now closed. In total, 814 teams submitted their documents for this round. The previous stage of the initiative, Project Catalyst Fund5, saw 267 projects apply.
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