Based on on-chain data provided by Messari cardano network, Blockchain With the number of wallets on it reaching 3.5 million, it has passed another milestone.
According to Messari data, there are currently 3,494.888 opened wallets on the network.
However, we can say that the number of wallets owned by Cardano will exceed 3.5 million next week.
While Total Wallets Increase on Cardano, the Number of Active Wallets Continues to Be Low
However, although there are close to 4 million open wallets on the network, the number of active wallets remains quite low compared to the total wallets.
According to Messari data ISLAND Only 136,800 wallets are active in its ecosystem.
The fact that the number of active wallets remains so low compared to the total number of wallets shows that Cardano users are content with holding their coins instead of using them actively.
When we examine the distribution of investors on the network, we see that the group with the largest number of wallets is the wallets with ADA assets between 1 dollar and 100 dollars.
In addition, we can observe that the number of whale investors holding over $10 million in ADA tokens on the network is 393. However, the number of large whales ADA has is not very large.
A cryptocurrency The fact that the whale investors it has is less and mostly individual investors cause that crypto money to be less stable and increase the selling pressure in short-term rallies.
The reason for this is that when the price rises, these individual investors sell their holdings instead of holding them in order to make more profit in the future.
*Not investment advice.