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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Cardano Adds 50,000 New Wallets As ADA Market Cap Surges

Samuel Edyme
Samuel Edyme
2 years ago
3 mins read
Cardano (ADA)

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The Cardano ecosystem has the potential for further growth. The network has grown tremendously in various sectors, including decentralized finance (DeFi) and nonfungible tokens (NFTs). The blockchain has recorded massive adoption over the past months emerging as the third most active blockchain in development activity.

According to data from Cardano Blockchain Insights, this blockchain’s ecosystem has added more than 50,000 new wallets since the beginning of the year. From 3,842,867 recorded on January 1 to 3,894,735 wallets registered as of January 25, a total of 51,868 wallets were added to the network. 

Cardano wallets | Source: Cardano Blockchain Insights
Cardano wallets. Source: Cardano Blockchain Insights

In the past 25 days, an average of 2,075 new wallets have been created daily, indicating a rising interest and activity from potential new investors on the Cardano blockchain.

Related Reading

cardano

Cardano (ADA) Continues To Shine With 15% Gains In the Last Week

2 years ago

ADA Market Cap Surges Nearly 50%

Following the increasing interest from potential buyers, Cardano’s (ADA) market capitalization has recorded new monthly highs. From the $8.48 billion seen late last year, the ADA market cap has surged to over $13 billion, up by 43% in the previous 30 days. 

The asset has gained traction and recognition from notable firms. Earlier this week, crypto analytics platform StockTwits ranked ADA as the most trending cryptocurrency, surpassing Bitcoin (BTC), which attained the second position below ADA.

CoinGecko and Coinmarketcap have ranked ADA as eighth regarding top cryptocurrencies with the highest market capitalization. Alongside its cryptocurrency market cap surge, ADA has also rallied in the past weeks, appearing among the top gainers among cryptocurrencies with large market caps.

ADA price chart on TradingView
ADA price is moving sideways on the 4-hour chart. Source: ADA/USDT on TradingView.com

Over the past 30 days, ADA has surged from the $0.25 price tag seen late last year to above $0.35 at the time of writing. Its trading volume has also changed significantly from $161 million recorded at the beginning of the year to $489 million in the last 24 hours. 

Cardano’s Most Anticipated Catalyst

Though ADA’s recent rally seems based on the crypto market’s ubiquitous bullish trend, a catalyst such as the Djed stablecoin could also be a part of the asset’s increasing attraction. Djed is Cardano’s first ADA-backed stablecoin powered by COTI Network. It is an over-collateralized stablecoin with a collateral rate between 400%-800%, according to the description on adapulse.io.

Related Reading

Cardano Price

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

2 years ago

Although it’ll be launched soon, Djed has received a lot of interest from non-ADA investors and potential Cardano buyers. Rick McCracken, a Cardano supporter, and owner of the ADA staking pool, DIGI, celebrated and confirmed the launch of Djed on mainnet.

Featured image from Bitcoinist, chart from TradingView.com
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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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