Although the price of Cardano (ADA), the fifth-largest cryptocurrency by market capitalization, has been trending sideways over the past weeks, the number of wallets and usage on the blockchain has not seized to increase.
According to a tweet recently shared by the Cardano Community, the blockchain has witnessed a rise of the total number of ADA wallets to two million.
Cardano Community tweeted, “OVER 2 MILLION ADA WALLETS. It wasn’t long ago that we were celebrating hitting our 1 million mark and now we hit a whopping 2 million ADA wallets!”
In late May 2021, Cardano (ADA) hit its previous all-time high of one million. On 1st January, the Cardano community had only 203,519 ADA wallets. This indicates that the number of ADA wallets surged by 5 folds within five months and has grown by another 1 million wallets between 23rd May and 2nd November 2021.
Read Also: Top Analyst Says Cardano (ADA) Has Bottomed Out and Ready for New Significant Uptrend
Meanwhile, the price of Cardano (ADA) surged massively to hit a new all-time high of $3.10 on 2nd September prior to the implementation of smart contracts on the Cardano network through the launch of Alonzo on the mainnet.
According to Altcoin Daily, a popular crypto news channel, Cardano (ADA) usage has been on a massive increase despite the current state of its price in the market.
Read Also: Charles Hoskinson Announces Partnership between Cardano and US-Based Fortune 500 Satellite Provider
Captioning illustrative images, Altcoin Daily tweeted, “Cardano ADA usage trending up!”
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