The research interest in Cardano ( ADA ) is the highest it has been this year have shown the Google Trends data. Growing interest in the promising blockchain platform follows the network's ramp-up and major developments from IOHK, all of which indicate that ADA may be ready for a bullish rally.

More people than ever talking about Cardano

Although the promises made by the platform have remained the same for the past five years, it seems that it took a while for Cardano to become the benchmark for the city. Shelley, the network update that will drive implantation on the platform, is now closer than ever, and will finally pull Cardano out of the realm of possibility and propel him directly to the forefront of the crypto market.

The testnet for Shelley was opened to all bet pool operators earlier this week, which drew a lot of attention on the platform.

Data from the analysis company LunarCrush have shown that nearly 6000 publications on social networks mentioning Cardano have been published over the past 24 hours. The company's measure of overall social engagement showed that there were more than 10.7 million posts, comments, retweets, and favorites across all social media.

People are looking for Cardano as the number of addresses increases

It's not just social media posts that are growing for Cardano . Data from Google Trends has shown that searches on the platform are the highest they have been in the past two years.

All of the online traction that Cardano has received comes at a time when the network has seen its strength greatly increase. Blockchain analytics firm IntoTheBlock reported on June 6 that more Cardano addresses hold ADA than ever before, with the metric reaching 385,080 addresses by the end of last week. This figure has grown almost constantly since the 2018 bubble, according to company data.

This indicates that ADA is becoming less and less concentrated over time, which shows that coins leave the hands of whales and fall into the hands of more retail users. That's not to say institutional money is ignoring Cardano - as reported by PassionCrypto , ADA's latest push has likely been fueled by big investors. IntoTheBlock of data have shown that $ 7 billion of ADA , over 300% more than its current market capitalization, have been traded by large holders on May 31 only.

In addition, three of the company's main seven metrics - net network growth, smart pricing, and supply / demand volume imbalance - are currently "bullish," adding to Cardano's valuation . The overall sentiment towards social Cardano is almost upward to 80%, have shown LunarCrush data, proving further that the ADA could be up for a few interesting months.