Cardano Blockchain Hits Another Milestone with One Million ADA wallets May 24, 2021 May 24, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMay 24, 2021 by Kelly Cromley

Cardano Blockchain Hits Another Milestone with One Million ADA wallets

Crypto has had a rough week, with several big cryptos losing up to 50% of their worth. Cardano, which has become one of crypto’s bright spots this year, was unable to survive the onslaught. ADA is now trading at $1.31, down 45% in the past seven days.

Despite the decline, the community is consistently growing. The most recent milestone was the creation of one million ADA wallets. Cardano is currently, and has been for a while, one of the most important crypto ventures in the world. One of the main factors is the upbeat community that trusts in the company’s success beyond price rallies. The outcome is now available for everyone to see.

The Cardano Foundation announced the new growth figures on Twitter. So apart from the growing customer base, the numbers reveal a group that is confident in the project’s long-term potential. In 2,490 staking pools, 70% of the ADA in existence has been staked.

With ADA closing at $1.26 at time of writing, this amounts to about $29 billion. The Cardano culture is also very kind. It has reserved $500 million in ADA for charitable endeavors. About 100 humanitarian entities around the world benefit from the money raised from this ADA.

In a blog post dated March 31, the Foundation pointed out that “Some of the largest mission-driven stake pools make regular contributions to charities such as Save the Children, The Water Project, SolarAid, and many more.”

It added:

“Together, more than 10,000 individual delegators—ada holders like you—have pledged a proportion of their personal ada holdings to more than 60 mission-driven stake pools on Cardano. This represents one of the largest collective giving communities in the entire blockchain space, a huge achievement that everyone in our ecosystem should be proud of.”

Cardano has also positioned itself as a network creation pioneer in the blockchain domain. It has nearly every week edged out Ethereum and Bitcoin in terms of GitHub commits, a key indicator of a blockchain network’s developer involvement.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.