The Cardano network added more than 500,000 wallets so far this year


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

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

Source: Google Data Study

As reported by Finboldthe 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 in the cryptocurrency network has been growing exponentially. It grew 1,200% year over year last yearfrom around 190,000 ADA wallets in December 2020 to 2.5 million in December 2021.

As reported, Cardano addresses holding between $100 and $100,000 worth of the network’s native ADA token have seen their percentage of the cryptocurrency’s supply rise to a new all-time high, at a time when “investment-level” addresses whale” have a record low.

Cardano addresses with less than $100 in ADA and up to $100,000 worth of cryptocurrency, called low-tier and mid-tier addresses, have been steadily accumulating over time, data from Santiment shows.

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

Snoop Dogg’s Cardano-based NFTs will launch shortly after the cryptocurrency network hit a new milestone. According to Morgan Schofield, Head of Ecosystem Growth at Cardano, the network has now issued more than 4 million native tokens in addition to almost 50,000 minting policies. Indeed, more than 4 million non-fungible and non-ADA tokens now circulate on Cardano.

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