Cardano (ADA), the world’s largest proof-of-stake (PoS) blockchain, has reached a new high in terms of active staking wallets.
Cardano now has over 1 million ADA staking addresses, according to the Cardano-tracking website pool. pm. This means that ADA holders are becoming more willing to wager their coins in order to gain incentives.
On the Cardano network, ADA holders have a stake in the protocol proportional to the number of coins they own. They can then delegate their tokens or stake their currencies to gain staking rewards.
Meanwhile, Cardano’s blockchain has seen a tremendous surge in the number of active addresses over the previous few months.
According to Messari data, the number of active addresses on the network peaked at 485,693 on November 22nd, 2021, before falling to 150,476 on December 5th.
When the price of the digital token ADA fell below the $2 support level, the number of active addresses on the Cardano network reached an all-time high. This means that the sluggish price growth of ADA has little or no effect on user interest.
SundaeSwap, a Cardano-based decentralised exchange (DEX), will be live on the testnet soon.
SundaeSwap was supposed to launch on the testnet on Sunday, December 5, 2021, but failed to do so owing to a reported problem.
The project’s crew tweeted a couple of hours ago as follows:
“Might have to rebrand to MondaeSwap… In all seriousness, we’ve found a bug with our scoopers renewing scooper licenses. We are cleaning that up, and as soon as it’s completed testnet will be live for use. Thank you for staying patient with us!”
Thousands of users will be able to test one of the most prominent projects on the Cardano blockchain following the introduction of the testnet.