Saturday, January 22, 2022

New Milestone: Number of Cardano (ADA) Staking Addresses Hits 1 Million

Cardano (ADA), the largest proof-of-stake (PoS) blockchain, has attained a new milestone in terms of the number of active staking wallets.

According to Cardano-tracking website, pool.pm, Cardano now has over 1 million ADA staking addresses. This implies that ADA holders are increasingly ready to stake their coins to earn rewards.

Read Also: Milestone Achieved: Cardano (ADA) Surpasses 20 Million Transactions without a Single Day of Downtime

ADA holders on the Cardano network have a stake in the protocol that corresponds to the number of coins they hold. They can, in turn, delegate their tokens or stake the coins themselves to earn staking rewards.

Meanwhile, Cardano has been seeing a massive increase in the number of active addresses on its blockchain over the last couple of months.

According to data provided by analytics platform, Messari, the number of active addresses on the network surged to 485,693 on 22nd November 2021 before dropping to 150,476 on 5th December.

The number of active addresses on the Cardano network hit the all-time high when the price of the digital token ADA dipped below the $2 support level. This implies that the lethargic growth of ADA in terms of price has little or no effect on users’ interest.

Read Also: What Makes Cardano the Most Anticipated Smart Contract Platform in the Blockchain Space

Cardano-Based DEX SundaeSwap Set To Launch on Testnet

SundaeSwap, a Cardano-based decentralized exchange (DEX), will launch on the testnet any moment from now.

SundaeSwap ought to have launched on the testnet on Sunday 5th December 2021, but failed to launch as promised due to a reported bug.

The team behind the project tweeted a couple of hours ago as follows:

“Might have to rebrand to MondaeSwap… In all seriousness, we’ve found a bug with our scoopers renewing scooper licenses. We are cleaning that up, and as soon as it’s completed testnet will be live for use. Thank you for staying patient with us!”

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Read Also: Charles Hoskinson: 2022 Is About Optimizing Throughput and Connecting Sidechains, It’ll Be a Fun Year for Cardano

After the testnet launch, thousands of users will be able to test one of the most notable projects on the Cardano blockchain.


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Tobi Loba
Tobi Loba is a passionate writer with over 3 million readers from all over the world. She graduated from a reputable university. She joined the crypto ecosystem about two years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects.

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