Cardano adds over 9,000 wallets on average daily in 2022

Cardano adds over 9,000 wallets on average daily in 2022
5 months ago
2 mins read

The number of wallets containing the Cardano network’s native currency, ADA, has increased significantly in 2022 as the blockchain grows.

It’s worth noting that the number of Cardano wallets has climbed by 13.08% since the beginning of 2022, rising from 2,666,372 on January 1 to 3,015,400 on February 7, a total gain of 349,028.

As a result, since the beginning of the new year, a total of 9,184 wallets have been added to the network on a daily basis.

Total wallets on the Cardano network. Source: Cardano Blockchain Insights

Cardano wallets hit 3 million 

Recently, Finbold reported the total number of ADA wallets hit the 3 million milestone on February 3 as the network shows no sign of slowing down. 

In particular, the number of Cardano wallet owners increased by 1,200% from 190,000 at Christmas 2020 to 2.5 million on December 24, 2021. 

Three million wallets and 9,184 wallets per day have been achieved in 2022, at a time when ADA has become the sixth-largest cryptocurrency in the world by market value, owing to continuous development. 

According to Finbold’s study on the 11 ways Cardano plans to scale in 2022, the changes have led to additional interest from investors.

1,000 smart contracts

Whatsmore, Cardano’s smart contract network, Plutus, has reached the 1,000 contracts milestone on January 27, coinciding with the rise of wallets on the platform.

There followed an increase in smart contract numbers from January 30 to February 1; 116 were added, the highest increase ever. The Alonzo upgrade in September of 2021, included smart contract functionality, increasing ADA’s scalability and speed. 

Cardano price

Presently, ADA is trading at $1.18, up 4.42% in the last 24 hours and 15.69% across the previous seven days, according to CoinMarketCap data as investors continue to buy Cardano.

Cardano 7-day price chart. Source: CoinMarketCap

ADA has a total market cap of $39.6 billion, with $1.32 billion in volume traded in the last 24 hours, an increase of 21.48%.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.