Cryptocurrency

Cardano (ADA) Has Another Great Success Behind

Cardano (ADA), which is shown as one of the biggest competitors of Ethereum (ETH), certainly achieved significant acceptance and recognition in 2021. The number of wallets in the Proof-of-Stake base blockchain network has reached 1 million, according to an announcement.

1 Million Seen on the Cardano Network

In the statement made by the Cardano Foundation, it was stated that 1 million wallets have been reached as of today. Of course, this does not mean that there are 1 million people using the network, but the fact that the network has reached the level of 1 million for the first time is promising. Among the information shared from the Cardano Community account is that 70 percent of the ADA in circulation is also staked. Staking $ 33.95 billion of ADA on the Cardano network, which has more than 2,500 active staking pools, demonstrates the trust of investors in the community and the network.

Although the ADA recovered a record before the big drop, reaching the level of $ 2.5, it has fallen 52 percent since then. While ADA also experienced a sharp decline in the decline that generally affected the crypto money market, it is still seen that it is well above its level at the beginning of the year.

The number of wallets in the Cardano network reached 1 million, but the real uptrend could come with the Alonzo hard fork. With Alonzo scheduled to arrive in the summer, the network will offer a true smart contract experience. Charles Hoskinson thinks this update will bring big change for ADA.

* Not Investment Advice.

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