Cardano (ADA) crosses the 2 million wallet threshold

Cardano exceeds two billion wallets

The Cardano community Twitter account shared the news yesterday. There are now over 2 million wallets on the network. The threshold of 1 million was exceeded last May.

🎉OVER 2 MILLION ADA WALLETS🥳️

It wasn’t long ago that we were celebrating hitting our 1 million mark and now we hit a whopping 2 million #ada wallets! #Cardano # CardanoCommunity @ F_Gregaard @IOHK_Charles @IOHKMedia @InputOutputHK pic.twitter.com/x40pri9tjN

– Cardano Community (@Cardano) November 1, 2021

The development of Cardano has taken a major step in recent months: smart contracts arrived on the mainnet in mid-September. In addition, the project announced that it will integrate the oracles of Chainlink (LINK) the same month.

According to Charles Hoskinson, the co-creator of Cardano, the priority is now given to improvements in terms of scalability. The second-layer network solution, dubbed Hydra, is considered “a high business priority” because it will enable a higher volume of transactions to be processed.

👉 Find our presentation of the Cardano project (ADA)

The unconvincing ADA price in October

Although the network continues to grow, “Uptober” was not a smile for everyone. While Bitcoin (BTC), Ether (ETH), Binance’s BNB and Solana’s SOL all posted gains of around + 30% on the month, Cardano’s ADA fell.

Cardano’s native cryptocurrency loses -10% over the last thirty days. This has caused it to fall back in the ranking of the most capitalized cryptos. It is currently located in 6th place, behind the SOL.

The latest communications surrounding the project, however, appear to have had an effect on the price of the ADA, which jumped + 6.8% early this morning:

ADA Cardano course

Source: TradingView, ADA / USDT

However, the scale is reduced for now, so it remains to be seen whether the ADA will be able to stand up to its immediate competitors.

👉 To read on the same subject – Cardano (ADA) would be undervalued compared to Ethereum (ETH), according to Grayscale

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About the author: Marine Debelloir

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Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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