Number of Cardano (ADA) Holders Hits an All-Time High at 5M

  • The number of wallets on Cardano has increased to over 5 million.
  • The wallet growth is up 48% year-to-date.
  • The number of accounts holding between 10 and 10K ADA has also increased.

Cardano continues to grow, with the number of wallets on the network reaching over 5.1 million — an increase of 48% since the start of the year. The jump in retail interest is also seen via other metrics, like growing Total Value Locked in its DeFi ecosystem. Since March, the number of addresses on the Cardano has nearly doubled, with last month’s figures standing at 2.6 million.

The Cardano project and its ecosystem have had a tremendous 2022 so far, built on the back of several successful development milestones. Projects are flocking to the network, with nearly 900 projects now building on the Cardano.

Projects building on Cardano
Projects building on Cardano: IOHK

Cardano’s research and development firm Input Output Hong Kong tweeted about the various projects in the space. Most of them were linked to NFT collections, community and social DApps, gaming, DEXs, and wallets. However, there are a wide variety of use cases, even though the current trend appears to focus on largely infrastructure-related DApps.

There’s more positive news with respect to hodlers. The number of accounts holding between $120 to $12,000 ADA has jumped in recent weeks, now accounting for nearly 17% of all outstanding Cardano tokens.

Supply distribution
Cardano supply distribution: Santiment

However, whales holding more than 10,000 ADA have reached an all-time low. Whether this is a sign of decreasing interest is unclear, but ADA’s price certainly has momentum regardless. Despite the technical development and ecosystem growth scheduled for 2022, there is still a lot to look forward to with the project.

Cardano Making All the Headlines in 2022

While Cardano has been on the market for a long time and has enjoyed success, the last 12 months have been exceptionally fruitful. The project has executed some major upgrades, including bringing smart contracts to the network, which then spurred mass development.

Such milestones have led to major gains for the project, both in terms of ADA’s price and the projects’ general exposure. Coinbase launched ADA staking in late March 2022, which helped push ADA’s price up by 38%.

Cardano price
Cardano price: TradingView

More recently, the Cardano Foundation announced that it would be collaborating with The Blockchain Center of the University of Zurich in a 3-year research initiative. The collaboration will focus on high-level academic research on blockchains and Distributed Ledger Technologies.

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