The Number of Addresses in the Cardano Network Reached 3.5 Mln

According to Messari, the number of open wallets on the blockchain has reached 3.5 mln. Currently, there are 3,494,888 mln wallets registered on the network, which means that the number of wallets is likely to exceed 3.5 mln within the next week. According to Messari, only 136,800 wallets are active.

The largest wallet group owns Cardano worth between $1 and $100. The number of whales on the network holding more than $10 mln worth of coins is 393 wallets, which is considered insignificant. The dominance of retail traders and investors in the coin network makes it more volatile and usually causes a surge in sales amid short-term price increases.

As the In/Out of the Money indicator on IntoTheBlock shows, Cardano remains one of the least profitable assets in the cryptocurrency network. Less than 6% of all ADA holders make a profit on their investment. This low level of return is due to the price behavior of the asset, which has remained unstable since the all-time high was reached in August. Since then, the cryptocurrency has lost approximately 72% of its value.

Image: Medium