Cardano: ADA Wallets Reported a Prodigious 1600% Growth in 2022

Vignesh Karunanidhi
Cardano: ADA Wallets Reported a Prodigious 1600% Growth in 2022
Source: NewsBTC

The number of wallets that hold Cardano’s ADA has seen tremendous growth since the last year. The growth has been highly bullish.

Compared to the number of wallets that held ADA, the growth has been over 1600% from December 2020. From the point of 186,000 wallets to 3,200,000 wallets, the growth has been quite impressive.

For the love of Cardano

We recently covered how Cardano reached its new milestone. Cardano (ADA) holdings continue to surge to new heights, according to the latest analysis from IntoTheBlock, a major analytics organization.

Unlike other projects like DOGE, which had its popularity rise above the roof mainly due to Elon Musk, Cardano had very organic steady growth. The usability and word of mouth are what kept the project growing.

From the beginning of 2022, there has been a steady growth of over 500,000 ADA wallets. Recent developments, milestones, and improvements have made investors build their interest in ADA. The growth of interest has been similar for both institutional and retail buyers.

In 2022, the Cardano environment will undergo significant changes. According to the newest statement, AadaFinance, a Cardano-based peer-to-peer lending protocol, will deploy its first version in May, thereby enabling P2P lending on the platform.

Cardano may soon be competing with Aave and Compound, both of which have a first-mover advantage due to this breakthrough.

ADA is currently trading at $0.948935 with a 24-hour trading volume of $1,242,443,256. Cardano is down 9.56% in the last 24 hours. From an all-time high of $3.10, ADA is down by 69%. Cardano was founded by Charles Hoskinson, co-founder of Ethereum, to provide a more sustainable and balanced ecosystem for cryptocurrencies.

The developers of ADA are more concerned with the coin’s functionality than with its price.
“As we approach closer and closer to hyperinflation, it used to be millions, then it was billions, and now it’s trillions,” Charles Hoskinson, the creator and CEO of Cardano, put it clearly. Soon enough, every one of you will be a billionaire.”

Hoskinson argues that the current price of cryptocurrencies is too high in comparison to their utility. With the show and steady developments, it won’t be long till ADA crosses its all-time high.