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New Cardano addresses increased by 2,000 daily amidst market turmoil

New Cardano addresses increased by 2,000 daily amidst market turmoil
TL;DR Breakdown
  • Cardano attracts over 2,000 new wallets each day amidst market instability
  • Cardano has contributed around 70 smart contracts per week as more developers join the network

Since experiencing a significant update in September 2021, the Cardano (ADA) blockchain ecosystem has continued to grow significantly. This progress can be described in terms of new and fresh features, improvements, and buyer interest, with over 2,000 new holders joining every day in the last 30 days.

Data shows there were 3,268,890 ADA holders on April 19. Compared to 3,339,101 on May 19, this data shows an increase of 70,211 between the two dates. In addition, ADA Blockchain Insights noted that the results indicate 2,340 new holdings per day.

Cardano whale transactions hit a four-month high as major investors purchased the dip. ADA whales were at their most active on May 13 since January, when the ADA price hit a low of $0.40 on May 12. ADA recorded 1,085 transactions worth more than $100,000, indicating that both significant and small investors are interested.

Cardano’s achievements continue to pile up

It is worth noting that Cardano, in particular, has contributed around 70 smart contracts per week as more developers join the network. The world’s largest Proof-of-Stake (PoS) blockchain added 283 Plutus (a Cardano-based smart contract platform) scripts between April 8 and May 8, increasing from 2,400 to 2,683.

Cardano is currently working on its next hard fork, the Vasil hard fork, which will take occur in June 2022. The latest development occurs as Cardano prepares for the next event. Its plan is to grow the protocol’s transaction throughput, as well as volume and liquidity, considerably.

After increasing the number of ADA wallet holders to over 3 million in February, Finbold revealed that the network launched 400 new ADA-based projects and over 100,000 wallets at the end of the month.

Cardano, like the rest of the cryptocurrency market, has been trading bearishly in recent days. According to CoinMarketCap statistics, its price at the time of writing is $0.526, up 0.92 percent in the last 24 hours but down 9.47 percent over the last week.

ADA 7D graph coinmarketcap
ADA 7D graph coinmarketcap
Benson Mawira

Benson Mawira

Benson Mawira is a content writer with aesthetic expertise in different types of SEO-based articles of niches related to technology. I write news on cryptos, NFTs, and also Blockchain. I am to provide high-quality and plagiarism-free work to clients.

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