Cardano Has Amassed 100,000 Wallets to Its Network in the Past Month

Vignesh Karunanidhi
Cardano Has Amassed 100,000 Wallets to Its Network in the Past Month
Source: NewsBTC

Cardano has seen substantial growth over the last year. One fact that is evident is the growing number of Cardano wallets.

Over the year, there has been an increase of almost 100,000 wallets that hold Cardano’s native currency, ADA.

Cardano’s steady growth

Since last year, the number of wallets holding Cardano’s ADA has increased dramatically. The upward trend has been really positive.

From December 2020 till now, the number of wallets holding ADA has increased exponentially. The increase in wallets from 186,000 to 3,200,000 is exceptionally remarkable.

Specifically, in the last month, there has been an addition of almost 100,000 wallets as Cardano seems to grow. As of March 17, there have been 3,159,444 wallets, whereas by April 17, in one month, nearly 93,630 wallets have joined.

Source: Cardano Blockchain Insights

The reports by Cardano Blockchain Insights also state that there has been a steady 2k-5k addition of wallets every day.

Cardano also announced the release of its ERC-20 converter.

Cardano performance

As we had covered, some significant updates are coming in for ADA. The Vasil hard fork, which has been long anticipated, is slated to happen around June.

The event will be remembered as one of the most significant in highlighting ADA’s development. A majority of decentralized apps have been waiting for the Vasil hard fork.

Pipelining, new Plutus CIPs, Hydra, and other scalability enhancements are supposed to be implemented in the upcoming Vasil hard fork.

ADA, the world’s eighth most popular cryptocurrency, has had poor performance for over a year. The cryptocurrency market puts investors’ patience to the test and fails to produce the expected returns.

For over six months, ADA has been either dipping or trading sideways. But ADA, with the developments up its sleeve, is aiming to soar higher. ADA is currently trading at $0.914927 at the time of writing and is down 3.73% in the last 24 hours.