According to the Cardano Insights Twitter account, the project is approaching 700,000 users on its subreddit, with more than 3.6 million wallets open on the network.

In roughly two weeks, the Cardano community is scheduled to welcome its 700,000th person, making the Cardano network one of the largest crypto communities on the site.

In about two weeks number of reddit subscribers on Cardano's reddit will most likely exceed 700.000 users.

We literally cannot wait to celebrate this milestone. While we have many interested users, they often use old non dApp enabled – outdated wallets.

— Cardano Blockchain Insights (@InsightsCardano) May 15, 2022

Cardano Insights also stated that the majority of blockchain enthusiasts are utilizing old wallets that do not enable decentralized applications. Of course, which has become a big impediment to the network’s growth.

While the growing number of reddit members may not represent the favorable feeling of ADA traders or investors. So, it remains a powerful fundamental element in favor of the network’s growth and quick development.

Market performance of ADA

Despite the project’s fundamental progress, Cardano has unable to achieve positive market performance. That’s, with the network’s underlying coin losing over 80% of its value since September. Then, and failing to join a rebound rally.

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