More than 50% of Cardano wallets are staking

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The majority of Cardano (ADA) cryptocurrency holders participate in staking – 55% of wallets with non-zero balance have delegated their coins for staking.

Earlier this month, Cardano emerged as the most decentralized blockchain and displaced Polkadot as the leader. Currently 69% of issued ADA coins are locked for staking. Cardano’s developers have stated that the network is a hundred times more decentralized than the Bitcoin blockchain.

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According to Peter Nierop, Cardano staking pool operator, the last two months have seen a significant increase in the number of staking wallets, as well as the volume of coins.

So, at the moment 152,417 wallets out of the total of 277,538 are involved in staking. As for the coins blocked for staking, since the beginning of the year their number has increased by 650 million and reached 22.1 billion.

The average number of ADA coins held in one wallet and used for staking has been steadily declining. If at the end of December this figure was approximately 198,000 ADA, then at the moment it has dropped to 145,000 coins.

As a reminder, Cardano users gained access to staking after the Shelley update, which was rolled out at the end of July 2020.

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