$ADA: EMURGO Launches Open Beta of Social Platform 'Cardano Spot'

EMURGO, a global blockchain technology company founded in 2017, has recently launched the open beta of its Cardano-based social platform “Cardano Spot,” which was built to “rectify the fragmentation of the Cardano ecosystem” and help the cryptocurrency’s community.

According to a recently published press release EMURGO Media, one of the founding partners of Cardano ($ADA), released the closed beta version of Cardano Spot, and has since kept on developing the platform based on community feedback and direction. The platform, the release reads, is now “open to onboard all projects that are Cardano-powered.”

Sebastian Ziliaucus, Managing Director of EMURGO Media, was quoted saying:

In Closed Beta, we worked silently to build a platform based on community feedback and direction. With Open Beta, we are launching a host of new features and open ourselves to ideas and suggestions from the whole community.

Cardano Spot has over one thousand projects building on top of it, the document adds, along with over four million cryptocurrency community members. It’s a social platform that brings the community a hub with a “personalized and curated home feed” where users can create content, follow creators, and find like-minded individuals.

Moreover, it features a news feed providing updates on the Cardano ecosystem, a library to discover new Cardano projects and the latest trends within the smart contract platform’s ecosystem, and an events calendar so users can keep track of every event that’s going on.

The platform will also feature a market status section where users can find information related to token prices, market capitalizations, and tokenomics.

As CryptoGlobe reported, the median hold time that users on the Nasdaq-listed cryptocurrency exchange Coinbase hold onto the native token of the smart contract platform Cardano, before either selling it or moving it to an external address, is close to 200 days.

The cryptocurrency exchange notes on its page that a long hold time “signals an accumulation trend” while a short hold time “indicates increased movement of tokens.” Cardano’s typical hold time on the exchange has notably kept on rising since the feature was added.

The exchange’s price pages further show that Cardano is the 6th most popular cryptocurrency on the platform. While the exchange notes most users on social media are “mostly neutral” on the cryptocurrency, ADA has recorded its highest returns in 18 months in January of this year after its price rose 58.9% to $0.39. Its performance was the best it has seen since August 2021, and made it one of the strongest assets by performance among the top digital currencies.

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