Cardano (ADA) experiences a surge in social media activity following the SEC’s endorsement of its governmental smart contract applications.

The SEC has recognized Cardano’s significance in enabling “smart contracts for government services,” emphasizing its potential applications in governance, credential verification, and secure infrastructure management. Additionally, major investors, known as whales, have acquired 190 million ADA within a 24-hour period, indicating a robust confidence among investors and growing interest in the market. Over the past week, Cardano’s social sentiment has improved substantially as the SEC categorized ADA as suitable for government-related smart contract applications. In a recent document, the SEC outlined how digital assets such as XRP, SOL, and ADA can be instrumental in enhancing the U.S. digital economy. The document suggests that Cardano may be particularly beneficial for academic credentialing, smart contracts related to government services, and secure management of infrastructure. Additionally, Cardano is experiencing an increase in positive sentiment on social media following the SEC’s classification. Blockchain analytics company Santiment observed that the Cardano blockchain has seen a notable increase in positive sentiment on social media, achieving its highest level in four months. The increased positivity follows the recent decision by the U.S. Securities and Exchange Commission (SEC) to categorize Cardano’s application as “smart contracts for government services,” thereby underlining its practical uses. This progress has strengthened the confidence of the Cardano community, pushing bullish sentiment to its peak in more than four months, as noted in our earlier news piece. The revived excitement indicates an increasing interest in ADA as an important participant in blockchain applications for governance and public services. Besides the United States, Cardano is also gaining recognition in various regions around the world. Charles Hoskinson, the founder of Cardano, recently paid a courtesy visit to Takuya Hirai, who is Japan’s former Digital Minister. Hirai praised Cardano for its commitment to enhancing the development of smart contracts and decentralized applications, emphasizing the platform’s important position within the blockchain ecosystem, as mentioned in our previous news article about the ADA price increase and whale activities.