Cardano’s daily new wallets grow over 2,000 this month despite the unpleasant market

Since completing a big update in September 2021, the Cardano (ADA) blockchain ecosystem has continued its phenomenal expansion.

This expansion may be measured in terms of new features and improvements, as well as buyer interest, with over 2,000 new holders added daily over the last 30 days.

According to CoinCu statistics, there were 3,268,890 ADA holders on April 19, compared to 3,339,101 on May 19, gaining a total of 70,211 between the two dates, averaging 2,340 new holders daily, as data from Cardano Blockchain Insights reveals.

Cardano whale transactions hit a 4-month high as big players bought the dip. Whales were the most active on May 13 since January, when the ADA price hit a low of $0.4 on May 12. ADA, in the example, witnessed 1,085 transactions worth more than $100,000, indicating that both major and small investors are interested.

Notably, as more developers joined the network, the chain implemented over 70 smart contracts per week. The largest Proof-of-Stake (PoS) blockchain increased the number of Plutus (a Cardano-based smart contracts platform) scripts from 2,400 on April 8 to 2,683 on May 8.

Cardano is currently preparing for its next hard fork event, the Vasil Hard Fork, which is scheduled for June 2022. The most current development occurs as the blockchain prepares for this event. Its goal is to broaden the protocol and drastically increase transaction throughput, as well as volume and liquidity.

After increasing the number of ADA wallet holders to more than 3 million in February, the network launched 400 new ADA-based projects and approximately 100,000 wallets at the end of the month. Following that, it was announced that the Trezor hardware crypto wallet now supports Cardano smart contracts.

Meanwhile, like the rest of the cryptocurrency market, ADA has been trading bearishly in recent days. According to CoinCu statistics, its price at press time is $0.51, which is down 3.66% in the last 24 hours and down 10.84% over the last week.

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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Harold

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