Cardano Reaches 8M Tokens, 4M Wallets: Can ADA Price Follow Suit?

• Cardano’s most recent Monthly On-chain statistics have shown the network has surpassed 8 million native tokens and 4 million unique wallets.
• The Cardano blockchain is continuing to expand its reach, value and overall development.
• March saw an increase in transactions, wallet holders and delegated wallets, as well as a surge in Plutus scripts which now totals 5,234.

Cardano’s Network Expansion

According to its most recent Monthly On-chain statistics , unique wallets on the Cardano network have crossed 4 million, while transactions carried out in March have hit 64 million. The number of users on the Cardano network has seemingly skyrocketed in the month of May as more users trooped into Cardano. Wallet holders increased by 1.44%, bringing the total number of hosted wallets to 4.02 million. Delegated wallets are up by 0.49%, totaling 1.28 million. Native tokens have soared by 2.63%, bringing the total number of tokens to 8.07 million. Expectations for Cardano (ADA) price are high, hoping that on-chain performance can influence ADA’s price in April.

Plutus Scripts Surge

Cardano is committed to improving its network policies and Plutus scripts usage throughout March was no different with a notable surge of 1.67%. Plutus scripts are used to validate a network action, and now total 5,234 after last months increase showed improvement for their usage on the Cardano blockchain.. Policies also saw an increase of 1.40% bringing the total policy count up to 71,160 at close of March 2021.

Optimism for ADA Price Increase

As Cardano continues to expand its reach and develop its technology further it will be interesting to see how this impacts the cryptocurrency market’s second largest cryptocurrency – ADA – which currently holds $1 billion more market capitalization than Binance Coin (BNB). With such impressive growth stats announced by Cardano today investors may look towards this digital asset as one worth investing into if they believe these trends will continue upwards over time potentially helping push prices even higher for ADA then what we currently see today .

Continued Progress expected

It is expected that with continued progress from both within the community and from outside sources who aid in developing new technologies or use cases for this blockchain that we could begin seeing more investors flock towards it due to increasing confidence in potential future gains or use cases associated with Cardanos native token – ADA . With such high expectations set upon this project many community members remain optimistic about what lies ahead for them when it comes down to possible price increases due solely off improvements made within their respective networks infrastructure .

Conclusion

In conclusion , it appears that progress is being made consistently within both tech related features offered through this blockchain but also when looking at metrics like wallet holders or transaction numbers . This influx of newcomers may be attributed directly towards all these developments seen within this particular crypto ecosystem , making us wonder what other advancements lie ahead for us here at Cardano ? Time will tell how much influence these improvements can cause within this space however one thing thats certain is that any positive changes made here could lead potentially lead towards greater things down line including possible price increases should enough people become aware about whats occurring behind closed doors here at cardanos headquarters .