Cardano network crosses 3.5 million wallets milestone

TheCoinRepublic 6 days ago Report
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  • The company has more than 3.5 millions wallet on its platform
  • One million new wallets have been added since starting of this year

Cardano ($ADA) exceeded the 3.5 million wallet milestone at that time when the developers of cryptocurrency were operating on its forthcoming Vasil hard fork, and the people are widely supporting it. 

Cardano Blockchain Insights shares data through which we get to know that the company now has more than 3.5 million wallets on it. In December 2021, the data stood at 2.5 million. It is clear that the company has connected nearly 1 million new wallets since starting this year.

Likewise, the total members on the network bounced slightly from 1 million users to 1.17 million. In February, the company touched a bar of 3 million wallet milestone, which means that in six months – characterized by a remarkable downfall of crypto asset value – Cardano added more than half a million new wallets, according to Finbold, a cryptocurrency news site.  

It is very important to highlight that one wallet does not indicate one active user. A user can create multiple wallets, as many as they want to create on a blockchain, and also, some safekeeping services may hold the funds of many users in a single wallet.

ALSO READ – Avalanche Price Analysis: AVAX Coin Trades into the Triangle Pattern; Will it hit $30-Resistance? 

Smart contracts marked over 3000

According to a trustworthy news source, several smart contracts installed on the Cardano network have marked above 3000 for the first time in the history of cryptocurrency as developers operating forward of the Vail hard fork.

Plutus, it is good to note that the smart contract platform of the Cardano blockchain permits the users to write down an appeal that connects with the Cardano blockchain. 

The company is now very close to its upcoming project, Vasil hard fork, which will carry a “massive” enhancement on the Cardano’s network, but currently, it is delayed by a few more weeks.

The project will include the plans for Cardano enhancement. However, investors are still betting on it, with data from a news website’s price pages which shows that the users of the Nasdaq-listed cryptocurrency exchange have a classic ADA hold time of more than 153 days. It means that traders of the company on the exchange hold onto their assets for that high before exchanging them or circulating them to another account or address. 

Particularly, a price prediction model which is completely based on artificial intelligence is advising that the value of the company’s native token ADA will see a surge to trade at $2.9 in September of this year, portraying a 530% increase from the cryptocurrency’s current price.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

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