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Cardano adds over 2,400 new wallets a day in June as adoption grows

Cardano adds over 2,400 new wallets a day in June as adoption grows

Despite occasional hiccups in the cryptocurrency sphere caused by businesses going bankrupt and regulators filing lawsuits, Cardano (ADA) has been recording steady growth in terms of its adoption during the month of June.

As it happens, Cardano has been adding an average of 2,446 new crypto wallets every day since June 1, 2023, bringing the total number of Cardano holding addresses to 4,161,225, according to the data retrieved by Finbold from Cardano Blockchain Insights on June 21.

Total number of ADA wallets in June. Source: Cardano Blockchain Insights

Adding ADA addresses

In other words, the Cardano network has grown larger by 48,924 new addresses in June, adding up to the total number of 318,578 (up +8.29%) new cryptocurrency wallets added since the year’s turn, as this number stood at 3,842,647 on January 1, 2023.

Specifically, the network recorded the highest number of wallets added on June 10, when 3,979 new ADA wallets appeared, whereas the least successful day in the month in this context so far was June 18, when 1,498 new wallets joined the Cardano network.

New ADA wallets added per day. Source: Cardano Blockchain Insights

Cardano price analysis

As things stand, the current price of ADA is $0.28, recording an 8.33% gain on the day and a 1.09% increase on its weekly chart as it follows the generally bullish sentiment on the wider crypto market and moves to reverse the monthly loss of 24.08%, according to the latest charts.

ADA 24-hour price chart. Source: Finbold

Meanwhile, the latest Cardano Node 8.1.1 update has recently launched on the mainnet, featuring software patches for minor issues in an effort to reduce epoch transitions and improve the blockchain performance for its users, which may lead to a further increase in adoption.

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