ADA Wallets Number Could Reach 1 Million In 2021: Report

The ADA wallets number could reach 1 million in 2021 according to the new reports that we have in today’s Cardano ADA news.

The number of ADA wallets skyrocketed in the past month with an average of 64 wallets that are created every hour between December 16 and January 4. Using the data, projections showed that ADA wallets number could reach 1 million by 2021 which makes Cardano one of the fastest-growing blockchain networks in regards to user acquisition.
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graph showing — Graph showing the number of new ADA wallets created every hour from Dec. 16 to Jan. 4. (Source Twitter)

2020 has been a major year for Cardano but this year is set to become record-breaking in every sense of the word since both the Cardano Foundation and IOHK dedicated this year to building the ADA community with the CEO of IOHK Charles Hoskinson saying that it will be the year when the power for the community is fully harnessed.

The plans are reinforced by the latest data that came from the Cardano network which shows that there’s extensive growth in the number of addresses and wallets that are created on the network. According to the data from AdaStat, an average of 121 new wallets were created each hour a day ago. This represents a 98% increase from the 63 wallets that were created on January 1 and a 255% increase from the 34 wallets created per hour on December 16.

graph ada — Graph showing the projected increase in new ADA wallets in 2021. (Source Twitter)

According to the data compiled from AdaStat, if this number of new wallets continues to increase at this rate, there could be a new milestone reached of over 1 million ADA wallets that will be created in 2021. With the data showing that under 55% of all existing ADA wallets are now staking their funds, the addition of a million new wallets will bring an unprecedented level of decentralization to Cardano. Another interesting thing that will reinforce Cardano’s decentralization is the fact that the majority of the holders are retail investors that hold small amounts of the native currency.

About 2.08 billion ADA are held by whales while the investors hold under 6 percent of the circulating supply which is about 7.6 billion ADA. The data from IntoTheBlock shows that the retail investors hold about 72 percent of the current ADA supply which is about 25 billion tokens.

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