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Cardano (ADA) Hits New Milestone As Network Amasses 1 Million Wallets Staking ADA | CryptoGazette - Cryptocurrency News


cryptogazette.com 07 December 2021 07:22, UTC
Reading time: ~2 m

It’s been revealed that Cardano is making headlines again. ADA reached a new milestone for the number of wallets that are ready to stake the digital asset.

There are more than 1 million ADA holders ready to stake their coins

The online publication the Daily Hodl notes that according to Cardano-tracking site pool.pm, there are now over one million ADA holders ready to stake their coins to earn rewards.

It’s been also reported by official notes that users who hold ADA on the Cardano network have a stake in the protocol that corresponds to the amount of coins they hold.

In turn, they are able to delegate their tokens or stake the digital assets themselves to earn rewards.

According to the data revealed by the same online publication mentioned above, the following is worth noting:

“Cardano also has seen its number of active addresses rise over the last several months. According to data from analytics platform Messari, the number of active addresses on the network skyrocketed to 485,693 on November 22nd before falling to 150,476 on December 5th.”

The same notes reveal this:

“The number of active addresses on the network hit its all-time high as ADA plunged below the $2.00 level.”

Regarding the price of ADA, at the moment of writing this article, ADA is trading in the green and the coin is priced at $1.46.

Cardano in the news

At the beginning of this month, we revealed that Cardano-exclusive decentralized exchanges (DEXs) are thus critical for the future of decentralized finance.

That’s why we’re immensely proud that Do.Exchange (DOEX), a Cardano-based DEX with an Automatic Market Making protocol, has chosen KICK.IO launchpad for its public sale.

By making use of self-enforcing intelligent contracts, DOEX will facilitate trustless and efficient financial transactions between market participants and provide the much-needed liquidity within the Cardano ecosystem.

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