The number of Cardano wallets collateralizing ADA exceeds 1 million

Cardano has now crossed the milestone of 1 million mortgage wallets. The project has always been one of the most promising projects in the field and has gained a cult following since its debut in 2017.Altcoins have always been the number one in the network, holding the largest number of tokens, until recently Solana took the titleNevertheless, it still has a place in the market.

Break a new record

On Sunday, December 5th, cryptocurrency investor Jesse Blount congratulated Cardano founder Charles Hoskinson on Twitter on achieving the latest milestone. In the tweet, Blount attached a picture showing that the number of delegates on the Cardano network has exceeded 1 million.

Related Reading | Ambassador Cardano addressed the FUD surrounding the project

With the release of smart contract functions on the blockchain, bets on the network have increased. Developers were finally able to publish DApps on the Internet, and the projects launched on the blockchain were expected to be a huge success. What followed was a rapid increase in the number of users who pledged ADA on the network.

Number of staking wallets on Cardano surpasses 1 million | Source: Twitter

The picture released by Blount shows that in 3,108 mortgage pools, there are more than 1 million wallet mortgages on the network. At the time of release, a total of 33,085,775,493 ADAs were pledged on the network, accounting for 72% of the total pledged ADA circulating supply. It is still one of the largest proof-of-stake blockchains.

Cardano price chart from TradingView.com

ADA drops to $1.28 | Source: ADAUSD on TradingView.com

The first DEX comes to Cardano

The launch of DEX on the Cardano blockchain is one of the main reasons for the increase in network activity. As users move from the high fees of the Ethereum network to other blockchains, Cardano has begun to absorb this user base.

SundaeSwap will be the first DEX launched on the Cardano network.According to a postal On IOHK’s official Twitter, DEX will be launched on the Cardano testnet. The developer expects the usage rate and transaction volume to be high, so the reason for the cooperation is to ensure its smooth operation.

Related Reading | Cardano recorded more than 20 million transactions before the DEX was released

This release marks the official release of Cardano DeFi. DEX will first check its performance under high throughput through the testnet. The community is looking forward to the bug in the DEX too much, but it must also be remembered that it is still in its early stages. As DeFi settles on Cardano, there will definitely be some issues that need to be resolved before it runs perfectly.

Featured image from CadaNews, chart from TradingView.com



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