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Cardano Staking Address Jumps By More Than 200,000 In 3 Months

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According to data from Cardano (ADA) data aggregation tool, Pooltool, the number of ADA staking wallets has jumped to 821,024 as of September 10. Since June 3, the number climbed from 608,391 addresses in three months, jumping by 212,633 wallets. This is a 34.95% spike.

Cardano also recently became the third-largest cryptocurrency, with a current market cap of $76.16 billion. At the moment, the total ADA staked has a $57.57 billion value, which is 71.4% of ADA’s total supply. 

The jump in the number of staked wallets seems to anticipate the upcoming Alonzo Purple update. The development is expected to bring more good tidings for the entire Cardano network.

In other Cardano news, Google searches for ‘Buy Cardano’ hit a level not seen in three months, on August 22. Currently trading at $2.37, ADA recently achieved an all-time high when it hit $2.88.

A Finbold report suggests that Cardano staking is now a lot more popular because of the exposure received from several platforms. Canadian digital finance and tech investment firm, iMining recently added ADA to its list of assets allowed for staking. The firm also intends to add the asset to its product line, thereby attracting institutional investors.

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 9/11/2021

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