The Increase in the Number of Cardano Active Wallets is at a Record Level!

The number of Cardano (ADA) wallets is increasing day by day. As a matter of fact, this number has increased from 190,000 to 2.5 million. Based on this increase, it can be said that the implementation of smart contracts has steadily increased the adoption of the cryptocurrency network, albeit partially.

According to data shared by the Cardano Foundation, the number of ADA wallets has increased by over 1,200% since last year. According to available data, even after the price of the cryptocurrency dropped from its all-time high ($3 to $1.44) to $1.44, there was around 780% growth over the same period.

Cardano Foundation CEO, Frederik Gregaard, commented that 2021 was an “incredible year of growth” for the Cardano network. According to Gregaard, 2021 has been a year that “continues growth, technical innovation, community expansion, and partnerships” that have helped drive the Cardano protocol forward.

While the number of active addresses in the Cardano network was 50,506 in October, this number quadrupled to 216,072 active addresses by November. The decrease in transaction fees on the network from $ 0.45 to $ 0.38 has a significant share in this.

Gregaard stated that the successful launch of the Alonzo hard fork, which brought “programmability to Cardano”, was also extremely effective in this growth.

The CEO also added that Cardano has formed a series of new partnerships that include esports platform Rival, fintech firm UBX, and the non-profit organization Save the Children.

According to ADA CoinMarketCap data, it ranks 6th in the list of the most valuable cryptocurrencies and is priced at $1.42 as of the writing of our news.

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