The Cardano ($ADA) network has added more than 500,000 wallets since the start of the year, data shows

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The number of wallets created on the Cardano ($ADA) blockchain has grown by more than 500,000 so far this year and topped the three million mark in early February. The increase in the number of wallets coincides with the growing adoption of Cardano’s decentralized finance (DeFi) space.

According to Cardano blockchain information shared on Google Data Studio by the Cardano Fans Stake Pool, there are now 3,201,914 ADA wallets on Cardano, up from 2,666,372 at the start of the year.

Source: Google Data Studio

As reported by Finbold, the number of wallets on Cardano grew by 453,121 in the first quarter of the year alone, meaning around 5,000 wallets were added per day on average.

The number of wallets on the cryptocurrency network has grown exponentially. It grew 1,200% year-over-year last year, from around 190,000 ADA wallets in December 2020 to 2.5 million in December 2021.

As noted, Cardano addresses worth between $100 and $100,000 of the network’s native ADA token saw their percentage of cryptocurrency supply hit a new all-time high, at a time when “whale-level” addresses » hold a historically low level. .

Cardano addresses with less than $100 in ADA and with up to $100,000 in cryptocurrency — known as lower-tier and mid-tier addresses — have steadily accumulated over time, according to data from Santiment.




Additionally, American rapper Snoop Dogg is set to release unreleased music as non-fungible tokens (NFTs) on the Cardano blockchain as part of a collaboration with Cardano-based platform Clay Nation. The collaboration will also involve “iconic collectibles” and “limited edition locations.”

Snoop Dogg’s Cardano-based NFTs are released shortly after the cryptocurrency network reaches another milestone. According to Morgan Schofield, head of ecosystem growth at Cardano, the network has now issued over 4 million native tokens in addition to nearly 50,000 minting policies. Indeed, more than 4 million non-fungible tokens and non-ADA tokens are now circulating on Cardano.

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The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto-assets involves the risk of financial loss.

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