Wow! Cardano Holder Increases By 1600 Percent

JAKARTA – Cardano (ADA), a research-based cryptocurrency that uses a Proof-of-Stake (PoS) network, has high holder growth. This can be seen from the number of ADA token holder wallets which has increased by 1600 percent from December 2020 to 2022.

It was recorded that in 2020 there were 186,000 wallets holding ADA tokens. Meanwhile, in the first quarter of 2022, the number of wallets for ADA holders skyrocketed to 3.200.000. This is a significant increase which marks the increase in investor confidence in Cardano.

As reported by U.Today, since early 2022, the total number of ADA wallets has increased by almost 500.000, with Cardano crossing the three million wallet mark earlier this year in early February.

The rapid expansion of the network coincided with the increase in the number of wallets in Q1. This has succeeded in increasing the interest of investors, especially institutional investors, as the number of on-chain transactions exceeds USD 100.000, growing 50-fold by 2022.

Cardano is in the early stages of the Basho phase, to develop an efficient ecosystem to enable and stimulate the creation of decentralized applications (dApps). With today's smart contracts, Basho is all about scaling and optimizing the network. The Hydra protocol family plays an important role in this. Hydra is a collection of Layer 2 solutions aimed at improving network security and scalability.

According to the data report from Coingecko, currently, the price of ADA is trading at IDR 13.720. ADA's price performance decreased by 6.2 percent. Based on its market capitalization, ADA currently ranks 8th behind XRP and SOL.