Skip to content

​​Official: Total number of Cardano wallets hits 3.5 million

​​Official: Total number of Cardano wallets hits 3.5 million

The Cardano blockchain has witnessed significant growth in the last year and has sustained that development ahead of the impending Valid hard fork, as seen by a rise in the number of wallets holding the network’s native coin, ADA.

Interestingly, on December 24, 2021, the number of Cardano wallets was 2.5 million. Since then, more than 1 million ADA wallets have been added.

According to statistics acquired by Finbold, the total number of ADA wallets stands at 3,500,565 as of August 2, using data from Cardano Blockchain Insights.

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

Given that Cardano hit 3 million wallets on February 3, Cardano has managed to add over 500,000 new holders in the last six months despite the crypto market crash.

Cardano-based smart contracts surpass the 3,000 

It’s also worth mentioning that Finbold also reported that Cardano-based smart contracts surpassed the 3,000 on August 1 for the first time.

With the latest Vasil hard fork on the horizon, Plutus Scripts (a Cardano-based smart contracts platform) continue to climb, seeing the effect of the September 2021 Alonso hard fork, which included the incorporation of smart contract functionality, improving Cardano’s scalability and performance.

In particular, the Alonso hard fork enabled Cardano to provide members of the developer community access to a platform for developing applications related to decentralized finance (DeFi) and programmability.

Vasil hard fork update

Given the Vasil hard fork delay the creator of Cardano, Charles Hoskinson, told users on August 1 that he does not anticipate further delays with the Vasil hard fork, and that the update is now undergoing final testing. 

He also observed that progress is being made ‘steadily and systematically’ in the appropriate direction. 

“We’re kind of in the final stages of testing in that respect. So unless anything new is discovered, I don’t anticipate that we’ll have any further delays.”

Hoskinson also said that there are just a few “edge cases” that need to be solved, and he expressed optimism that the Cardano team would be ready to provide an update with further news around the middle of August. 

World’s first digital asset bank to offer ADA staking

Also, on August 2, Finbold reported that Sygnum Bank, the world’s first digital asset bank, announced that the bank’s “clients can conveniently and securely stake Cardano” using the bank’s institutional-grade platform to receive staking rewards.

Currently, as things stand Cardano is trading at $0.5076, up 0.94% on the day and a further 7.34% in the last week, according to data retrieved from CoinMarketCap.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.