The Cardano ecosystem (ADA) continues to reach new heights, with the platform’s native ADA token also achieved a milestone of becoming a third most valuable cryptocurrency by market capitalization.
Statistics from Pooltool, a Cardano data aggregation tool, show that ADA staking wallets were at 821,024 as of September 10, 2021, whereas Staking addresses on June 3, 2021 were 608,391, Cardano gained 212,633 wallets in three months which is an increase of 34.95%.
The total ADA at stake is valued at $57.57 billion, which is 71.4% of the total coin supply.
The increase in the total number of Cardano staking wallets comes ahead of Alonzo highly anticipated update, which is set to take place on September 12. As Cardano network expands and real-world usage increases in 2021, the latest staking milestone adds to Cardano’s strong growth.
Due to the Cardano price spike in August, interest in the “Buy Cardano” keyword search on Google peaked in three months. At the same time, Tokyo-based Bitpoint became the first Japanese exchange to allow Cardano trading on August 25.
It’s also worth mentioning that Cardano staking has become more popular due to more exposure from multiple platforms. For example, iMining, a publicly traded Canadian company, added Cardano to its list of supported assets for its staking services. In particular, iMining hopes to expose Cardano to institutional investors by adding it to its product line with this inclusion.
While the US-based cryptocurrency exchange, Kraken, authorized ADA staking in May, which allowed more users to be exposed to ADA through the Kraken Staking wallet.
Nonetheless, despite surpassing the native Binance (BNB) token as the third largest digital asset, ADA recently suffered a major collapse after reaching all-time highs in value.