Cardano Already Has Over 3.5 Million ADA Wallets On The Platform

The total number of wallets on Cardano (ADA) has passed the 3.5 million wallet milestone when project developers are working hard on the upcoming hard fork.

According to data from Cardano Blockchain Insights, the blockchain network now has more than 3,500,565 wallets, up from 2.5 million in December 2021, meaning that since the beginning of the year, the network has added around 1 million new wallets.

Similarly, the number of authorized people on the network has grown from over 1 million users to 1.17 million.

It’s also worth noting that the number of Cardano-based smart contracts topped 3,000 for the first time on August 1.

Plutus Scripts continues to increase, benefiting from the September 2021 Alonso hard fork, which includes introducing smart contract capability and enhancing scalability and performance.

The Alonso hard fork, in particular, enabled the blockchain to give the developer community access to a framework for creating applications related to decentralized finance (DeFi) and programmability.

Additionally, on August 3, CoinCu reported that Sygnum Bank, the world’s first digital asset bank, announced that “clients can conveniently and securely stake ADA” using the bank’s institutional platform to receive staking rewards.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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