Market Analysis

Cardano Adds +7% Unique Addresses – Market Analysis.

As per Staking rewards data, the number of unique addresses currently staking Cardano has increased by nearly 7% in the last 30 days. The current increase corresponds to the 1 million mark in the number of staking addresses.

Cardano monitoring website pool.pm reports that there are presently 1,008,241 wallets staking the currency, with 71.4 percent staked. Cardano is gaining popularity, with innovative features and functionality being introduced to the blockchain on a regular basis. In Cardano’s decentralized architecture, the Ouroboros algorithm is employed to create proof-of-stake consensus. At the heart of it all are 3,100 stake pools overseen by operators in control of the network’s scattered nodes.

Cardano’s parent organization, IOHK, has officially confirmed the launch of a new peer-to-peer (P2P) testnet to support its ongoing drive toward full decentralization. In September, only days before the Alonzo hard fork, which provides smart contracts to the network and lets it to compete with the big boys like Binance Smart Chain, Ethereum, and Solana, the price of ADA reached an all-time high of $3.09. Cardano (ADA) is up 820 percent year on year, according to CoinMarketCap statistics, after beginning the year 2021 at only $0.18. At the time of writing, the price of ADA was $1.38.

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