- Despite dropping by 9% last week, Cardano still stands strong as the total number of wallets rapidly grows and currently sits at 3.6 million, according to Messari.
- The on-chain data analyzer also indicates that 3k out of the total 3.6 million hold over 1 million tokens, which means there’s a higher than usual percentage of big investors.
Cardano adopts a community-based development approach
One of the reasons for Cardano’s success is accessibility. Cardano (ADA) is available at $0.85 for a unit at this time, making it easy for both small-time investors and whales to grab a piece of the pie.
Furthermore, Input Output HK, the parenting company, recently revealed that there’s 900 projects in progress on the block chain at the minute. One of them is Lending Pond – the first ever NFT loan platform, already holding a trading value of 90,000 units after the first week.
The #Cardano ecosystem continues to grow and flourish. With nearly 900 projects #BuildingOnCardano, #DEXs, marketplaces, lenders, #NFTs, wallets, incubators...(you name it) keeping track of the latest news becomes a challenging taskStablecoins coming into ADA blockchain in the nearest future— Input Output (@InputOutputHK) April 26, 2022
The next step for Cardano is launching stablecoins on its blockchain. This was proudly announced by founder Charles Hoskinson, claiming that USDC and Tether are going to be the safer option during up-and-down market conditions.
Tether and USDC will come in wrapped tokens, which serve as a virtual vault, so the wrapped assets are equal in price to the original assets. This new feature will come to light together with the installation of the ERC-20 version of the stablecoin.
Wingriders is one of the most exciting DEXes to launch on Cardano and now they are bringing stablecoins! https://t.co/Rpsl9znhylCardano price is yet to see any significant increase— Charles Hoskinson (@IOHK_Charles) April 12, 2022
In spite of having a whirlwind of activities inside the ecosystem of ADA, the cryptocurrency peaked only at $1.26 since February and doesn’t meet even half of its ATH at $2.96. This all time high was mainly achieved because of smart contract introduction.
At the current price, only 9% of the account holders are in profit. A whopping 88% of wallet owners are in deficit, while 3% are balancing around the same amount they invested.
