Cardano has reached a significant new milestone as the number of wallets on the network continues to climb. The asset has achieved multiple notable milestones recently, with increasing adoption, and advancement toward entering the Voltaire era and achieving full decentralization.
The recent progress has prompted some experts to predict massive growth for digital assets in 2024, and the influx of new wallets suggests that investors are interested and want to earn from this potential growth.
Cardano Wallet Growth Accelerates
The total number of wallets created on the Cardano network has now surpassed 5.2 million. According to data from Cardano Blockchain Insights, which aggregates information from multiple blockchain explorers, the count reached 5,201,576 by the close of Thursday, February 20.
TapTools previously drew attention to Cardano’s growth, as the asset saw a notable influx of users shortly after Grayscale filed for an ADA exchange-traded fund (ETF). TapTools broke the news of this milestone after the asset closed Thursday with a wallet count of 5,200,230, and the growth since then suggests high interest in Cardano.
This growth has been particularly notable in recent weeks. Over the past 30 days alone, more than 50,000 new wallets have been created, reflecting an uptick in interest in the blockchain. This increase suggests that more users are engaging with the network, whether for staking, decentralized applications, or other purposes.
Active Addresses and Transactions Surge
Beyond wallet creation, Cardano has also experienced significant growth in active user engagement. A recent report from Messari indicates that the average number of daily active addresses on the network jumped by 58% in Q4 2024, reaching approximately 42,900.
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This rise in activity has coincided with a sharp increase in transaction volume. The average number of daily transactions surged by 65% during the same period, reaching 71,500. This suggests that not only are more users creating wallets, but they are also actively utilizing the network for various blockchain-based activities.
Cardano’s Bullish Future
The latest developments in Cardano’s network activity have fueled discussions about the blockchain’s position in the current market cycle. In early February, Cardano creator Charles Hoskinson revealed that he would meet with Elon Musk at the end of the month, sparking speculation of how this could benefit ADA.
Hoskinson recently described ADA as the global standard, and the asset’s increasing popularity suggests it could play a major international role in the future.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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