Logo
Cardano Ecosystem

CryptoNewsLand

02/26/2024

·

179 views


Cardano Sees Nearly 90% Surge in New Wallets: Adoption Skyrockets!

published: February 27, 2024 at 04:30 AM GST updated: February 27, 2024 at 02:59 AM February 27, 2024 at 04:30 AM...

Cardano Sees Nearly 90% Surge in New Wallets: Adoption Skyrockets!

published: February 27, 2024 at 04:30 AM GST updated: February 27, 2024 at 02:59 AM

February 27, 2024 at 04:30 AM GST updated: February 27, 2024 at 02:59 AM 2 mins read News

  • Cardano experiences an 89% increase in new wallets, showcasing substantial adoption growth.
  • Total wallets on the Cardano network continue to rise steadily, reaching over 4.5 million.
  • Long-term holders dominate Cardano, with three million wallets holding ADA for over a year.

Cardano (ADA) has experienced a notable surge in its adoption, marked by a significant uptick in the creation of new wallets on its network. Data reveals a substantial increase in new Cardano wallets between February 22 and February 23, indicating a noteworthy 89% rise.

Read CRYPTONEWSLAND on Google News google news

While the growth rate of Cardano wallets has slowed since February 23, there remains a positive trend in the overall number of addresses on the network. The total number of wallets registered on the Cardano network has been steadily climbing, surpassing 4.5 million as of the latest data available. This sustained growth underscores the increasing adoption and utilization of Cardano’s blockchain technology.

One notable aspect of Cardano’s ecosystem is the dominance of long-term holders. With over three million wallets holding ADA tokens for more than a year, there is a strong presence of investors committed to the project for the long haul. This trend suggests a high level of confidence in Cardano’s potential for future growth and success.

This surge in Cardano wallet creation coincides with a period of downward pressure on the cryptocurrency’s price and market capitalization. However, despite these short-term fluctuations, data suggests that a substantial proportion of ADA holders are long-term investors, which could potentially bolster the token’s price over time. Despite short-term volatility, the growing adoption rate bodes well for the resilience and sustainability of Cardano’s ecosystem.

Read also:

disclaimer read more

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on CryptoNewsLand

ORIGINAL SOURCE

https://cryptonewsland.com/cardano-sees-...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from CryptoNewsLand

See more
Cardano Poised for Meteoric Rise: Analyst Predicts Impending All-Time High
CryptoNewsLand
Cardano Poised for Meteoric Rise: Analyst Predicts Impending All-Time High

03/02/2024

·

162 views

Related News

See more
Cardano Summit 2024

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)