• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Cardano wallets

New Wallets Surge On Cardano, What’s Behind This?

Best Owie by Best Owie
10 months ago
in Cardano
Reading Time: 3 mins read
Advertisement

The Cardano network is no stranger to accelerated growth but every now and then, there is a spike that causes the market to take a pause. This has been the case with the number of new wallets added on a daily basis which had reached a high of 7,600 new wallets added in a single day. While this is going on, speculations abound as to why the network is now seeing this rate of accelerated growth compared to when the market was still in a bull trend.

More Adoption Coming

The adoption of the Cardano network has been one of the reasons behind this increased interest in the blockchain. More users are coming to know Cardano as a major contender in the decentralized finance (DeFi) space, thus prompting them to start using the network. The result of this was not only had daily new addresses hit 7,600 in a single day, there had been more than 200,000 new addresses added to the network in the space of a month.

Related Reading | The Young Turks Embarrass Themselves Trying To Discuss Crypto Regulation

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

One solid reason behind this has been the adoption of the network for its NFT capabilities. Now, like with much else, the Cardano network offers cheaper and faster transactions compared to its biggest competitor, Ethereum. This has led some prominent figures to choose the network as the platform to launch their NFT projects. One of these is legendary rapper Snoop Dogg who announced that he would be launching an NFT collection on the blockchain.

Cardano price chart from TradingView.com

ADA price falls below $1 | Source: ADAUSD on TradingView.com

No doubt the entrance of such a prominent figure into the Cardano space has spurred interest from followers of the superstar, who would want to take advantage of the network the rapper is using. Blockchain Insights also draws this same conclusion, tying the increased interest in the network to the rapper’s NFT launch. 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Today 7687 new ADA wallets per day.

Hard to be certain what caused this massive spike of new ADA wallets per day but we will take a guess and attribut this to @The_ClayMates and @SnoopDogg partnership. https://t.co/MWDH2hCgeO pic.twitter.com/vWwZa7O4k6

— Cardano Blockchain Insights (@InsightsCardano) April 18, 2022

More People Building On Cardano

The Cardano DeFi space is still very young compared to its competitors but that has not meant that the network has staggered in its growth. IOHK, the developer behind Cardano, in a recent report, revealed that there are almost 900 projects that are currently being built on the Cardano network, and what’s more, this number is growing by the day.

Related Reading | Conquering Terrain: Terra’s Stablecoin UST Is Now Crypto’s Third Biggest

This accelerated rate at which developers are building on the blockchain shows interest from different parties. These projects which are set to launch on the blockchain will no doubt make it one of the top contenders in the future.

Cardano founder Charles Hoskinson has said that the network is “just getting started” in response to a tweet that shared the milestone of more than 100,000 wallets added in a month. The founder also recently proposed building a decentralized social media platform that would compete with Twitter on the Cardano blockchain, as well as other leading blockchains in the space.

Featured image from CoinFunda, chart from TradingView.com
Tags: ADAadausdCardanoCardano networkCardano walletsCharles HoskinsonNFTSnoop Dogg
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Best Owie

Best Owie

Related Posts

Cardano Price

Cardano’s Aggressive Development Activity Will Withstand Bear Assault At $0.3?

5 days ago
Cardano (ADA)

Cardano (ADA) Appears In Top Trending Crypto List, Surpassing BTC

1 week ago
Rick McCracken Predicts An Imminent Mainnet Launch For Djed, Cardano Stablecoin

Rick McCracken Predicts Mainnet Launch For Djed, A Cardano Stablecoin

2 weeks ago
Cardano

Cardano Leads Development With Unique Sidechains And Toolkits

3 weeks ago
Cardano Price

Vital Levels To Keep Eye On As Cardano Price Begins To Retreat

3 weeks ago
Cardano (ADA)

Cardano Up 30% Since December As 28 New Whales Hold At least 1 Million ADA

3 weeks ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

“Gold has been the best performing investment asset over the last two decades”: an interview with Easygold

January 30, 2023

The Crypto Dream Team: Binance Coin (BNB), Polygon (MATIC) and Orbeon Protocol (ORBN)

January 30, 2023

Polygon (MATIC) and Fantom (FTM) Are Losing Favor With Investors As They Turn To Snowfall Protocol (SNW) For 1000x Potential Gains!

January 30, 2023

Tezos (XTZ) shares its 12th protocol upgrade, Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon (MATIC) Network while Snowfall Protocol (SNW) Breaks Record Highs

January 30, 2023

Snowfall Protocol Investors Happy After the Release of Snowfall DEX, Twitch Co-Founder’s Solana Gaming Platform Fractal Expands to Polygon, And Majority of Dogecoin Holders Are in Profits Despite the Meme Coin Being Down 87% From Its 2021 ATH

January 30, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.