Cardano staking addresses increased by 100,000

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The number of Cardano Addresses (ADA) to host cryptocurrency has grown by over 100,000 in just two months as more investors place bets on the cryptocurrency and its ecosystem.

Data from data aggregator Cardano Pooltool shows that the number of wallets hosting ADA in USD has grown to 942,400 at the time of writing, up from 821,000 addresses as of September 10th.

The same data source shows that there are now $ 54.07 billion worth of crypto in the 2,931 active pool, which is over 72% of ADA’s supply. Cardano’s price began to rally earlier this week, to the point where it surpassed Solana to regain its position as the fourth-largest cryptoasset by market cap.

Earlier this year, ADA’s price skyrocketed ahead of the rollout of the highly anticipated Alonzo hard fork, which brings smart contracts to the network and allows it to compete with Binance Smart Chain (BSC), Ethereum (ETH), and Solana (SOL).

The Alonzo hard fork is part of the Goguen era, named after Joseph Goguen, an American professor of computer science at the Universities of California and Oxford. The era of Goguen came after the Shelley phase, in which Cardano became a decentralized blockchain and community members became validators.

In May, the Cardano network reached a new milestone when it created a million wallets. This milestone was reached at a time when thousands of new wallets were being created every day, as more and more users are supposedly joining the network in anticipation of the deployment of smart contracts.

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