Cardano Wallet Count Reaches 3.6 Million Despite Last Week’s Price Drop
- Despite dropping by 9% last week, Cardano still stands strong as the total number of wallets rapidly grows and currently sits at 3.6 million, according to Messari.
- The on-chain data analyzer also indicates that 3k out of the total 3.6 million hold over 1 million tokens, which means there’s a higher than usual percentage of big investors.
Cardano Adopts a Community-Based Development Approach
One of the reasons for Cardano’s success is accessibility. Cardano (ADA) is available at $0.85 for a unit at this time, making it easy for both small-time investors and whales to grab a piece of the pie.
Furthermore, Input Output HK, the parent company, recently revealed that there are 900 projects in progress on the blockchain right now. One of them is Lending Pond, the first-ever NFT loan platform, already holding a trading value of 90,000 units after the first week.
The #Cardano ecosystem continues to grow and flourish.
— Input Output (@InputOutputHK) April 26, 2022
Stablecoins Coming into ADA Blockchain Soon
The next step for Cardano is launching stablecoins on its blockchain. This was proudly announced by founder Charles Hoskinson, claiming that USDC and Tether are going to be the safer option during up-and-down market conditions.
Tether and USDC will come in wrapped tokens, which serve as a virtual vault, so the wrapped assets are equal in price to the original assets. This new feature will come to light together with the installation of the ERC-20 version of the stablecoin.