- Cardano has reported 1600 percent growth in ADA wallets since December 2020.
Growth in the Cardano (ADA) blockchain, holding the network’s native token number of walletshas increased significantly over the past years, as evidenced by the increase in Cardano, which had 186,000 wallets in December 2020, grew 1600 percent through the first quarter of 2022, with 3,200,000 wallets at the time of writing.
“In December 2020, there were 186,000 wallets. There are now more than 3,200,000 wallets. A growth of over 1600 percent. Mega Bullish (ascension).”
Another quick reminder.
Dec 2020 there were 186,000 Wallets.
Now we are over 3,200,000 Wallets.
That’s over 1600% growth
MEGA BULLISH#Cardano pic.twitter.com/kyVS137oFb
— Pieter Nierop (@nierop_pieter) April 11, 2022
It’s also worth noting that the total number of ADA wallets has increased by almost 500,000 since the start of 2022, with Cardano crossing the three million wallet mark earlier this year, in early February.
The rapid expansion of the network in the first quarter brought with it an increase in the number of wallets. A report was published recently on 11 different ways Cardano plans to scale b in 2022. With the number of on-chain transactions exceeding $100,000 in 2022 increasing 50 times, these developments have attracted the attention of investors, especially institutional investors.
Improvements continue
Cardano currently aims to create a productive environment that will enable and encourage the development of decentralized applications (dApps). Basho phaseis in its early stages. Since smart contracts are already in place, Basho optimization is an era of optimization where the scalability and interoperability of the network are improved. To achieve this scaling, Basho will add sidechains to the Cardano blockchain, allowing these new chains to ease the pressure on the main chain.
The Hydra protocol family also plays an important role in scaling the network. Hydra is a collection of Tier-2 solutions aimed at improving network security and scalability.
Cardano ecosystem and ADA price action
Cardano is witnessing massive growth in the number of projects and on-chain activity. Currently, about 900 projects are being built on Cardano, of which 3.6% are NFT marketplaces and 47.9% are NFT collections.
According to CoinMarketCap data ADA priceIt is trading at $0.94, down nearly 11 percent in the last 24 hours. With a market capitalization of over $32 billion, the altcoin ranks eighth in cryptocurrencies.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.