Cardano Community is Celebrating Another Milestone as Network has Successfully Conducted 20 Million Transactions

Cardano network has been active on several social media platforms. The founder of Cardano blockchain, Charles Hoskinson, also hosts a private YouTube channel, where he addresses the users regarding different topics related to the blockchain. In the same manner, the Reddit community for Cardano has recently started to grow at a steady pace.

As pointed out by one Reddit poster, the Cardano blockchain has now crossed another milestone after successfully conducting more than 20 million transactions. The Reddit users also pointed out that the blockchain has not suffered from a major crash or hacked in 1500 days of its launch. However, one Reddit contributor claimed that the network suffered a minor crash once in April, which affected its transaction capabilities temporarily.

CryptoGlobe recently published a data report that reveals that the total number of unique wallet addresses on the Cardano blockchain has fallen back to 200K. However, the same report also clarifies that in peak season, new address registration for Cardano blockchain went from 150K to 480K per day.

The same can be said for the staking addresses on the ecosystem. CryptoGlobe report notes that in the span of 60 days, total staking addresses on Cardano reached 100,000 distributed between 2,957 pools. As of now, 72% of the total circulating supply of ADA is staked and valued at $37.67 billion at current market value. The statistics indicate that Cardano was able to compete against giants like Ethereum network, Binance Smart Chain, Solana network.

The data projections shared by CryptoCompare indicate that the price momentum of Cardano native token ADA has continued to plummet. A week ago, the news of taper by the Federal Reserve and the discovery of a new COVID variant created a correction wave across the cryptocurrency market. However, entering December, most altcoins started to show signs of recovery.

Meanwhile, ADA prices kept decreasing and reached $1.57. Nevertheless, the Cardano investors are positive that a new bullish streak will soon develop for the token due to the new borrowing and lending projects that are ready to go live on Cardano. Additionally, Cardano has managed to surpass Ethereum in terms of daily trading volumes by facilitating $18.24 billion in comparison to $9.3 billion for the latter.

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