The wallets of staking ADA reached 1 million: Cardano

The wallets of staking ADA reached 1 million: Cardano
The wallets of staking ADA reached 1 million: Cardano 7

Despite a huge market crash, the Cardano project is getting better support in the crypto industry and hitting new milestones. 

Thanks to Alonzo Hardfork in the Cardano blockchain network, which enabled smart contract features in the Cardano mainnet blockchain network. New crypt projects are planning to enter the crypto industry with the use of the Cardano blockchain network.  Currently, more than 6 crypto projects are working on developing and fundraising to deploy their project on the Cardano blockchain. SundaeSwap is also one of the projects, which aimed to detect bugs in coding by launching the swap project on the Cardano testnet.

In the latest, the number of wallets staking ADA reached 1 million. This number is very big in terms of the rapid surge. This growth was not very interesting around a few months back. But the surge in this month over the last month is around 1000%. That means, around 10 fold rapid adoption of the Cardano crypto project took place.

Charles Hoskinson, CEO, and founder of the Cardano project shared his excitement about this milestone achievement. On Twitter, he wrote, ” we did it”.

After this tweet of the Cardano founder on this milestone of the Cardano project, many crypto traders are looking to get into Staking of Cardano coins.

We can see many tweets below the tweet of Cardano founder that people are asking “how to stake ADA” coin.

If we look at the growth of the Cardano (ADA) coin then it is 50% down over the last three months. As we can see in the picture shown below.

The wallets of staking ADA reached 1 million: Cardano 6
source: CMC

It is worth it to note, if there was no facility for the Staking of ADA then that may end up in a huge plunge in the price of ADA coins.

At present, Cardano is giving a 4.6% PA return on the staking. And around 71% of the ADA of circulating supply is under the staking.

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