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    The Number оf Cardano Whales Grew By 15,000%

    The Number оf Cardano Whales Grew By 15,000%

    Analysts at Santiment have revealed that, according to statistics, the number of large holders of Cardano (ADA) coin has increased by 15,000% since December 2021. The experts emphasized that they took into account wallets whose balances contain from 10 thousand to 1 million ADA.

    The specialists said that over the past month and a half, 3.9 thousand new users have joined the network, who have purchased more than 10 thousand Cardano. The total number of ADA wallets is close to 3 million.

    The experts stressed that the launch of the decentralized exchange platform (DEX) SundaeSwap played a big role in the growth in the number of users. 

    SundaeSwap DEX platform was launched on January 21, 2022. Users stated that it was fraught with a lot of problems. Due to the overload, the stability of the network has suffered. Platform clients said that many transactions did not go through for several hours.

    Despite problems in operation, the first such service on the network for the first week recorded a total value of funds locked in a smart contract (TVL) in the amount of $71.69 million. More than 300 active trading pools appeared on the exchange.

    According to analysts, interest in the Cardano network was also fueled by news about the upcoming release of the Milkomeda decentralized application. This second-layer solution is designed to integrate with the Ethereum Virtual Machine (EVM). The new product will allow deploying sidechains for other smart contract languages.

    At the time of writing, Cardano cryptocurrency is trading at $1.05. The market capitalization of the asset is $35,200,124,819, which puts it in 6th place in the ranking of all digital currencies for this indicator.