Cardano Has Added 50k More Staking Addresses Within Only Three Weeks

Taking account of the Data provided by PoolTool, the optimistic crypto Cardano (ADA) has managed to sure 50,000 new addresses for staking in just three weeks’ time, giving an 8% growth in address inventory.

According to data from other sources, Cardano now owns more than 600,000 staking addresses, as the crypto asset sees substantial growth in popularity. If we look at the numbers, the number of staking addresses is currently 659,301 coming from around 2,647 actively operated pools, reaching a total value of nearly $29 Billion, in comparison to the total supply of $41 Billion, which makes up more than 71%.

Cardano’s Situation

Cardano has seen its good and bad days. The asset had reached an all-time high of more than $2.4 in value on May 16, but after the recent huge market crash, following Bitcoin’s ban in China and seizing of payments by Tesla, Cardano is experiencing its worst days as the crypto fell a massive 49% in value, now currently trading at a severe low of $1.34, basically bringing it back to where it had a bit of stability, back in March. On the 22nd of June, the asset experienced one of its worst days in the past few months, falling to a price low of just $1.02, which then managed to rebound at $1.27.

Shattered Hopes

The Developers at Cardano launched the big hard fork update, named as AlonzoBlue 2.0, which was supposed to make the asset much more valuable, giving users the ability to make smart contracts and also included a ton of new DeFi applications, but that didn’t make much difference as the asset seems to be struggling in growth.

New Projects and Expansion Plans

IOHK, which is responsible for Cardano (ADA), have stated that they have been working on ways to integrate the Stablefees system into the network, which is a system that helps to tag a base price for transactions by using the pegging method on a set of currencies, giving rise to a much more acceptable and fairer amount of transaction fee.

Developers at Cardano have previously also revealed details about their expansion projects in the African continent, partnering up with the governments of Ethiopia and Tanzania to create new and unique opportunities for crypto trading. CEO of IOHK, Charles Hoskinson, has been actively participating in the promotion of the asset. Charles Hoskinson is also in the works of visiting the Crypto-pro state of El Salvador in hopes of new expansion projects.

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