The Cardano blockchain has seen a considerable increase in the number of wallets holding the network’s native coin, ADA, during the previous year. On December 24, 2021, there were 2.5 million Cardano wallets in circulation. Since then, over 500,000 ADA wallets have been added. And, as of February 3, the total number of ADA wallets stands at 3,002,727, showing that over 12,200 wallets were added per day, resulting in a 20.1% rise in total wallets. Alonzo and Other Cardano Updates Network development is coinciding with wallet expansion, as Cardano smart contracts recently passed the 1,000 mark on January 27 this year. Following this, the number of smart contracts increased by 116 on January 30 and February 1, the highest increase in history. The ADA’s scalability and speed were improved thanks to the Alonzo upgrade in September 2021, which included the addition of smart contract functionality. This had an impact on the Cardano blockchain load, which stayed above 90% for more than a week, marking the first time the system has ever reached this level of blockchain load and maintained those parameters. Meld, a new decentralized financial system based on the Cardano blockchain, recently secured 100 million stakes in its native currency MELD in just three days after launching. According to CoinMarketCap data, Cardano is currently trading at $1.06, up 4.27% in the past 24 hours and 4.23% over the previous seven days.The post Total Num...
