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Cardano New Wallets Surpasses 7,600 Per Day, Amid Rising Interest in the Network

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Cardano (ADA) New Wallets Daily Surpasses 7,600 Amid Rising Interest in the Network.



Since the end of last month, there has been a growing adoption of Cardano-related initiatives as more users flock into the project’s ecosystem. 

The number of new ADA wallets created daily has surged tremendously over the past few weeks, suggesting widespread interest in Cardano. 

According to Cardano Blockchain Insights, the number of new ADA wallets per day has reached 7,687 daily. The volume has been on an uptrend since March 20, 2022, when only 2,000 new addresses were recorded. 

Massive Growth in New ADA Wallets Daily

Interestingly, new ADA wallets have gained momentum ever since, reaching new heights before soaring above 7,000. 

While several factors can be responsible for the sudden growth of ADA daily new wallets, the most significant event that occurred in the blockchain is the launch of the non-fungible tokens (NFTs) in Cardano, which was born out of a collaboration between famous American hip hop star Snoop Dogg and Clay Nation. 

Recall that the duo partnered to launch a unique non-fungible token that will grant holders access to unreleased songs from hip hop stars and other mouthwatering incentives. 

“Today, 7687 new ADA wallets per day. It’s hard to be certain what caused this massive spike of new ADA wallets per day, but we will take a guess and attribute this to The_ClayMates and @SnoopDogg partnership,” Cardano Blockchain Insights notes. 

As reported last month, the number of Cardano addresses soared above 5 million following rising interest in cryptocurrency. 

More Projects Building on Cardano

Aside from the growth in the number of new ADA wallets per day, there is also a growing interest among decentralized applications (dApps) developers, who consider Cardano the rave of the moment blockchain for their dApps. 

The Cardano network offers developers fast, scalable, and low-cost transactions and the platform has been running consistently without any technical glitches for over five years

Developers are flocking to the network with these exciting features and have already commenced building. 

According to Input-Output Global (IOG), nearly 900 projects are being built on Cardano, with the number of interested developers increasing by the day. 

 

Meanwhile, IOG CEO Charles Hoskinson noted that more projects would be launched on the network’s mainnet after Vasil Hardfork is implemented, an upgrade that will enhance Cardano’s scalability. 

On the other hand, SingularityNET finally launched the long-anticipated AGIX ERC-20 converter bridge on the Cardano mainnet, while Cardano’s Total Value Locked Surges from $0 to Over $220 Million in 4 Months.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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