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Cardano NEWS: ADA Crypto Network Expands ADA adds over 450,000 wallets in Q1 2022 with New Fund and Research Initiative
Cardano (ADA-USD) is seldom out of the headlines. The network is continually expanding its relationships and products, or lobbying governments to promote bitcoin adoption.
Recent Cardano news has it all. A new alliance, dapp milestones, and a growth fund are all energizing ADA coin investors this month.
There aren't as many dapps on the network yet, but the network is still growing quickly. It has almost 900 dapps on the network as of this week, which is a lot. Hoskinson had said that Cardano would have a lot of dapps by now, but there have been 900 since mid-September. In addition, the network has become a haven for the non-fungible token (NFT) market, with more than 4 million native NFTs made on the network.
The Cardano developers have been very good at growing their network and getting people to use it all over the world. This week's Cardano news shows that they aren't going to slow down any time soon.
Cardano's news is mostly about money and partnerships.
This week's crypto news shows that Charles Hoskinson is moving his network again. This time, the network is going to Europe. The Cardano Foundation, which is part of the larger Cardano network, is working with the University of Zurich in Switzerland on a three-year project. The University of Zurich is a well-known institution in the crypto world, and its Blockchain Center is one of the largest blockchain research centers in the world. This is what you need to know about the university.
The partnership is a good thing for both of them. This means that the university will be able to use a group that is part of one of the world's largest layer-1 networks. It's a good way for Zurich researchers to look into many different aspects of the blockchain technology. As a point of research, experts can look into how different scaling technologies, security measures, and more work. They can use Cardano's chain as an example. Cardano, on the other hand, can use this research to help grow and develop its own network.
There was a lot of news about a Wave Financial AD fund last week. This news adds to that. People at the financial company said that they were going to give Cardano DeFi an extra $100 million to help it grow. Cardano can use the funds to give developers on its network the money they need to build strong DeFi platforms and services.
As good as the Cardano news is for people who use the network, today the market is down. The network can't be saved by that. This morning, the value of the ADA crypto is down about 4%.
Cardano's network adds about 450,000 wallets in Q1 2022, 5,000 everyday.
The number of wallets holding the Cardano native token, ADA, has increased dramatically during the last year.
According to Cardano Blockchain Insights, the biggest Proof-of-Stake (PoS) asset added 453,121 wallets between January 1 and March 31, 2022.
Cardano added almost 5,000 wallets everyday throughout this time period, resulting in a 19.76 percent increase in total wallets in Q1.
Also worth noting is that since the start of 2022, the ADA has added over 500,000 wallets, surpassing the 3 million mark earlier this year in February.
The surge in wallets in Q1 coincided with the network's fast development.
The modifications have increased ADA's value, attracting new investors, especially institutional investors, as the frequency of on-chain transactions over $100,000 increases 50x in 2022.
The number of Cardano-based smart contracts has topped 2,000 for the first time, according to Finbold.
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