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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    What Is Copy Trading in Crypto? A Beginner’s Guide

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    A Step-by-Step Guide for Risk-Takers

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    CryptoPunks Dominate Top Weekly NFT Sales amid Overall Market Sales Volume Surges 34.19% to $133.66 Million

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    Volume Plunges While Transactions Soar

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

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    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

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    Hype fades as NFT platforms lose users

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

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    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

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    Taking Back Identity: How MocaChain Decentralizes Digital Power

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    ‘League of Kingdoms’ Expands Into ‘Arena-Z’ as New Games and Tokens Emerge

    R-Games and LoveBit Unite to Power ESG-Driven Web3 Gaming

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  • AI
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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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  • Guides
    What Is Copy Trading in Crypto? A Beginner’s Guide

    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

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    Crypto Risk Management Strategies for Trading (2025)

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What Is Liquid Staking? How It Works & Why It Matters in Crypto

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    A Full Comparison of Layer 2 Solutions

    What are Rollups in Crypto? ZK Rollups and Optimistic Rollups Explained

  • Analysis
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Home Altcoins

Will Cardano’s network rise thanks to this memecoin?

December 25, 2023
in Altcoins
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Posted: December 25, 2023


  • Meme coins on the Cardano network gained massive traction over the last month.
  • Developments were made across all sectors of the network as prices grew.

With rising interest in liquid staking and L2 networks, it has been hard for Cardano [ADA] to pave its way and attract attention in 2023. However, recent data suggested that meme coins have helped the network garner more activity.

READ ALSO

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All eyes on meme coins

According to recent data, Snek Memecoin [SNEK] surged by 250% on the Cardano blockchain this month.

This surge is likely to draw increased attention to the network, with the meme token’s popularity becoming a focal point within the crypto community.

As meme tokens gain prominence, they contribute to the overall vibrancy of the Cardano ecosystem, indicative of an active and dynamic blockchain community.

The heightened value of SNEK can contribute to increased liquidity within the Cardano network, providing traders with more efficient options.

Beyond financial aspects, the surge in SNEK’s value may encourage greater user engagement within the Cardano platform, potentially leading users to explore and interact with other features of the ecosystem.

Development activity on the rise

Apart from meme coins, other developments could also help attract users to Cardano. Inasmuch, the network saw several important changes.

Notably, the developers improved the way the blockchain communicates and fixed some bugs, getting ready for a big release.

See also  Forthewin Network becomes first dApp to launch on Neo X with Smith

For wallets and services, the Lace team introduced Lace 1.8. This update improves how rewards work for stake pools and makes it easier for the wallet to talk to other wallets.


Read Cardano’s [ADA] Price Prediction 2023-24


They also fixed some minor issues to make overall the experience better for users.

These updates could help ADA sustain its rally in the future. At press time, ADA was trading at $0.618242, with ts price having risen by 1.68% in the last 24 hours.

Source: Santiment

Tags: CardanosMemecoinnetworkrise

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