Cardano continues to grow, with the number of wallets on the network reaching over 5.1 million — an increase of 48% since the start of the year. The jump in retail interest is also seen via other metrics, like growing Total Value Locked in its DeFi ecosystem. Since March, the number of addresses on the Cardano has nearly doubled, with last month’s figures standing at 2.6 million.
The Cardano project and its ecosystem have had a tremendous 2022 so far, built on the back of several successful development milestones. Projects are flocking to the network, with nearly 900 projects now building on the Cardano.
There’s more positive news with respect to hodlers. The number of accounts holding between $120 to $12,000 ADA has jumped in recent weeks, now accounting for nearly 17% of all outstanding Cardano tokens.
However, whales holding more than 10,000 ADA have reached an all-time low. Whether this is a sign of decreasing interest is unclear, but ADA’s price certainly has momentum regardless. Despite the technical development and ecosystem growth scheduled for 2022, there is still a lot to look forward to with the project.
While Cardano has been on the market for a long time and has enjoyed success, the last 12 months have been exceptionally fruitful. The project has executed some major upgrades, including bringing smart contracts to the network, which then spurred mass development.
Such milestones have led to major gains for the project, both in terms of ADA’s price and the projects’ general exposure. Coinbase launched ADA staking
in late March 2022, which helped push ADA’s price up by 38%.