Phoenix Group has recently released data on the engagement levels of Layer-1 blockchain projects within the cannabis industry based on social activity metrics. These metrics, including likes, comments, and shares, provide insights into the popularity of blockchain networks among stakeholders in the industry.
Bitcoin ($BTC) emerged as the top-ranked Layer-1 blockchain project, with 143.3K engaged posts and 195.2M interactions on social media platforms in the past 24 hours. Bitcoin’s widespread adoption and influence in the cryptocurrency world have contributed to its leading social activity performance.
Following closely behind Bitcoin is Solana ($SOL), with 103.8K engaged posts and 60.2M interactions. Solana’s social engagement metrics have been on the rise, driven by the growing interest of developers and enthusiasts in decentralized finance (DeFi) and non-fungible tokens (NFTs).
Ethereum ($ETH) secured the third spot on the list, with 78.6K engaged posts and 66.6M interactions. Ethereum serves as a central blockchain ecosystem where numerous decentralized applications thrive, supported by its extensive community network.
In addition to the top three projects, Cardano ($ADA) and Sui ($SUI) also garnered significant community engagement. Cardano accumulated 31.8M interactions through 11.3K posts, while Sui received 8.9M interactions from 8.1K posts, showcasing sustained interest in their development efforts.
Other Layer-1 projects such as Binance Smart Chain ($BNB), Kaspa ($KAS), Hedera ($HBAR), Injective Protocol ($INJ), and Avalanche ($AVAX) were also featured in the ranking list. These projects exhibited varying levels of interest within the blockchain industry sectors.
The data revealed that Avalanche ($AVAX) received 2.6M interactions, followed by Hedera ($HBAR) and Injective Protocol ($INJ) with 1.7K engaged posts each. Social media engagement serves as a key indicator of project value and community involvement, reflecting the collective interest of users, developers, and investors in these projects.
The research findings underscore the importance of social activity in assessing project significance and community engagement. Active participation in cryptocurrency markets fosters innovation and the development of new blockchain solutions, driving the growth and evolution of the industry.
Overall, the data provided by Phoenix Group sheds light on the dynamic landscape of Layer-1 blockchain projects and highlights the role of social engagement as a vital component in evaluating project success and community interest.