Cardano Holder's Digital Wallet (ADA) Reaches More Than 3 Million, ADA Ready To Go Up?

Cardano wallet has crossed over 3 million. (Coinwire)

JAKARTA – Crypto Cardano (ADA) continues to make important developments in its network. Recently, Cardano announced that Cardano digital wallet users have reached more than 3 million people. This was conveyed by ADA through its Twitter post.

U.Today reports that in May 2021, the leading proof-of-stake (PoS) blockchain has surpassed one million wallets. While Kraken reveals more than 11,000 wallets are created every day. The Cardao network has grown by 1,348 percent in the past year. Over a million wallets are delegated to the blockchain, which represents an annual increase of 870 percent.

3 MILLION #ada WALLETS!🚀#Cardano #CardanoCommunity pic.twitter.com/5iEjq89X8b

— Cardano Community (@Cardano) February 3, 2022

In September 2021, Cardano successfully launched its smart contract coupled with decentralized applications (dApps). The need for developers to adapt the Cardano network to the extended Unspent Transaction Output model (eUTXO) is the main reason for Cardano's slow progress.

Some say that the Cardano-based DEX SundaeSwap went live on the mainnet last month, while many other dApps are still waiting to be launched.

As reported by U.Today, Cardano surpassed Ethereum by daily transaction volume in early January. As a result, network congestion exceeds 90 percent, which significantly slows down the network. Input Output developers are currently working on various scaling solutions during the “Basho” era of blockchain development.

At the time of writing, the data report from Coingecko explained that Cardano was trading at the level of Rp. 15,342. Cardano prices have increased by 2.2 percent in the last 24 hours.