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Cardano ($ADA) Staking Address Numbers Swell by 100,000 in Two Months

Cardano ($ADA) Staking Address Numbers Swell by 100,000 in Two Months


The number of Cardano ($ADA) addresses staking the cryptocurrency has grown by over 100,000 in just two months as more investors are betting on the cryptocurrency and its ecosystem.

As first reported by Finbold, data from Cardano data aggregator Pooltool shows that the number of wallets staking $ADA has grown to 942,400 at the time of writing, up from 821,000 addresses on September 10.

The same data source shows there are now $54.07 billion worth of the cryptocurrency staked across 2,931 active pools, representing over 72% of the ADA’s supply. As CryptoGlboe reported, Cardano’s price started surging earlier this week, to the point it surpassed Solana’s $SOL to retake its position as the fourth-largest cryptoassets by market capitalization.

Earlier this year the price of ADA exploded ahead of the rollout of the widely anticipated Alonzo hard fork, which brings smart contracts into the network and allows it to compete with the Binance Smart Chain (BSC), Ethereum (ETH), and Solana ($SOL).

The Alonzo hard fork is part of the network’s “Goguen” era, named after Joseph Goguen, an American professor of computer science from the University of California and the University of Oxford. The Goguen era comes after the Shelley phase, in which Cardano became a decentralized blockchain and community members became validators.

In May, the Cardano network hit a new milestone as one million wallets had been created on it. The milestone was reached at a time in which thousands of new wallets were being created every day as presumably more users join the network in anticipation of the smart contract rollout.




Earlier this month, it surpassed the two million wallet milestone.

As covered, real estate developer Prometheus International has sold two luxury homes on the Portuguese island of Madeira for a total of €4.1 million ($4.7 million) paid for in ADA.

According to local news outlet Sapo, this was the “most expensive luxury real estate acquisition in Portugal since the blockchain revolution,” and were the first two properties to be sold in ADA in the country.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Unsplash



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