Cardano Incredible Growth: ADA Wallets Surge Over 1,200% within a Year

Cardano (ADA) network has continued to maintain its steady growth. The blockchain recorded its most growth in terms of price and number of users or wallets over the last year. The number of Cardano wallets made a magnificent increase from 190,000 to over 2.5 million in the space of one year.

This notable increase was shared with the community a couple of hours ago by Cardano Foundation. The report indicates that the number of ADA wallets grew over 1200% year-over-year.

The growth also indicates that the adoption of Cardano since the implementation of smart contracts on the mainnet has been steady.

Cardano (ADA) Price Massive Surge over the Year

According to available data, Cardano (ADA) has also recorded massive growth in terms of price. Cardano Foundation CEO Frederik Gregaard has a published blog post to back this fact.

In the blog post, Gregaard looked back and described 2021 as a year of incredible growth for the Cardano network and its native token ADA, which gained relatively 700% this year alone.

According to Gregaard, 2021 was a year in which the Cardano protocol managed sustained growth, technical innovation, community expansion, and partnerships, which aided its advancement. He also highlighted a number of on-chain developments, indicating a vast growth in terms of adoption.

The Cardano network has reportedly grown to have over 2.5 million native assets minted on it. This began on 1st March 2021 when the network gained the ability to mint native assets. Of these 2.5 million assets, 2 million are said to be non-fungible tokens (NFTs).

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.