Whale Addresses Holding Cardano (ADA) Hits a New High

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Overview of Third Generation Crypto - Cardano

Cardano whales or wallet addresses with 1 million to 10 million rose to a new time high of 12 billion ADA ($10 billion) last week, a 41% gain since late January, according to data provided by blockchain analytics firm IntoTheBlock. Number of Cardano Addresses Reaches 3.5 Million The Cardano network has also reached another milestone as the number of addresses on the blockchain network reached 3.5 million, according to on-chain data from IntoTheBlock. The platform suggests that 3,494,888 million wallets are currently registered on the network, which means that during the next week, the number of wallets will most likely exceed 3.5 million. However, only 136,800 wallets are active. This essentially means that the majority of Cardano users are simply holding the cryptocurrency instead of utilizing it actively. JUST IN: #Cardano network has reached 3.5 million addresses. — Watcher.Guru (@WatcherGuru) March 13, 2022 The total value locked in the Cardano network has also increased from $1 million to an all-time high of $162 million over the past year with an increase of $50 million in a week, according to DefiLlama. Infact, further data shows that more than 70% of the funds are locked in decentralized exchange (DEX) SundaeSwap.

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