Cardano Adds 79,196 Non-Zero Addresses, Moving Towards 10M by 2025

This would mark a 4.4 times increase in the number of non-zero addresses present on the Cardano network.

The Cardano network has recently experienced significant expansion, surpassing 4 million total addresses. Of these, 2.24 million addresses hold non-zero balances, but an analysis suggests that this number could rise to 10 million by 2025.

Notably, total addresses refer to the total number of addresses created on a network, including non-zero and “zero” addresses. However, non-zero addresses on the network hold some amount of crypto, in this case, ADA. Consequently, non-zero addresses are used to track the level of adoption and activity on a blockchain.

Cardano’s total addresses currently stand at 4,029,148, having crossed the 4 million mark on March 21. Its non-zero addresses have also increased rapidly in the past few months, currently amounting to 2,248,964 (2.2M). This figure was 2,169,730 (2.16M) at the start of the year, marking an impressive addition of 79,196 non-zero addresses this year.

Cardanians, a Cardano stake pool operator, recently shared an analysis of the network’s growth that forecasts an increase in non-zero addresses to 10 million by 2025 based on growth patterns observed in Bitcoin and Ethereum.

The number of $ADA holders is growing despite the bear market. In the past, this has always been a sign of an adoption explosion in another bull market. If you examine the stats over a longer period of time, you will find that #Cardano is growing at a meteoric pace.

When will… pic.twitter.com/1U0ibFfQJp

— Cardanians | stake with CRDN3 (@Cardanians_io) April 7, 2023

According to the analysis, the introduction of staking on Cardano caused non-zero addresses to increase by 50 times (50X) within a year, from 17,183 in July 2020 to 835,417 in June 2021. While the number of addresses continues to rise, the growth rate has slowed to 2.6 times over the past two years.

Bull Markets Trigger Surges in Users

However, the report acknowledged that bull markets could accelerate user growth on networks, as seen in the cases of Ethereum and Bitcoin. Ethereum’s non-zero addresses surged from 1 million at the start of 2017 to 5 million by the end of that year. This figure now stands at 96.9 million, poised to hit 100 million in Q2 2023.

The analysis predicts the broader bull market to begin in 2025 (shortly after the BTC halving event), which should help increase Cardano’s users. It forecasts that Cardano’s addresses should stand at 3 million by the start of 2025 and hit 10 million before the year ends.

In addition, several developments, such as the launch of the USDA stablecoin, the launch of Hydra, and the growth of the Cardano DeFi scene, should help push this increase. Cardano’s DeFi TVL has continued to grow, currently sitting at 369 million ADA, representing an ATH value.