The quantity of wallets holding the network’s native coin, ADA, has risen dramatically in 2021, indicating that the Cardano blockchain has grown significantly.
On the last count of Cardano (ADA) wallets on December 24, the amount reached 2.5 million, with 500,000 new wallets being added since.
The overall amount of Cardano (ADA) wallets remained at 3,002,727, indicating that over 12,200 wallets were introduced per day over that period on the 3rd of February, resulting in a 20.1% increase in total wallets.
Cardano wallet owners incurred a 1200% increase from 190,000 in December 2020 to 2.5 million on December 24, 2021, and the latest statistics indicate that Cardano (ADA) is not leveling down in the near future.
The 3 million mark has been attained at a time when the network is thriving thanks to numerous updates, with Cardano (ADA) ascending to be the sixth most valuable cryptocurrency by market capitalization. Overall, the upgrades have played a pivotal role in the rise of Cardano (ADA), resulting in increased investor interest.
Similarly, the development of the network is synchronizing with wallet expansion, as Cardano (ADA) smart contracts actually passed the 1,000 mark in the last week of January.
Additionally, the number of smart contracts recorded an all-time high of 116 over the weekend.
Cardano (ADA)’s scalability and throughput were improved thanks to the Alonzo upgrade in September 2021, which included the introduction of smart contract functionality. The load of the Cardano (ADA) blockchain was largely impacted by this, when the system marked an entire week of staying above 90%, being the first time that the system has ever acquired this level of blockchain load and maintained those parameters.
The newest DeFi protocol running on the blockchain, Meld, merely 3 days after it was issued secured 100 million stakes of its native token MELD.
At the time of writing, Cardano (ADA) is changing hands at $1.07 having incurred a 2.47% surge in a 24 hour period.