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Cardano is celebrating one milestone after the other



Cardano investors have had to be strong over the past few months. Despite important upgrades, the price of the Altcoin has fallen sharply in a short time. However, this does not seem to deter many users, because the crypto currency is registering more and more active addresses.

The course of the crypto currency Cardano has lost a lot of its value in the last few months. While the altcoin still marked an all-time high at $ 3.1 via CoinMarketCap at the beginning of September, the price is now only bobbing at $ 1.25. The cyber motto was driven at its heyday by the prospect of the eagerly awaited Alonzo upgrade, which should open the cryptocurrency for smart contracts. After the implementation of the upgrade, however, the hoped-for push for the cryptocurrency did not materialize. It turned out that although many smart contracts were implemented at Cardano, they were not yet available live and the number of decentralized applications, also known as dApps, is still manageable.

Improvements take time

However, Cardano founder Charles Hoskinson has repeatedly emphasized in the past that the constant improvements that he and his team are striving for in the cyber motto need time to develop, and only recently asked his Twitter followers in a live question and answer session about patience. The fundamental Cardanos peer review system also plays a role here: Before implementation, each update is checked for correctness by various peers until all objections and concerns have been resolved. Of course, this takes time, but it should ensure the functionality of every upgrade.

More and more active addresses recorded

However, as data from the Messari database shows, it actually seems that more and more people are placing their trust in the future of the potential Ethereum killer Cardano. Because despite a significant decline in the share price, the number of active addresses in the Cardano network increased significantly in November. The number shot up to 485,693 wallets on November 22nd, compared to 161,330 addresses at the beginning of the month.

Over a million staking addresses

In addition, the cryptocurrency recently celebrated another milestone. A few weeks ago, for example, the network processed 20 million transactions for the first time without causing network problems. In addition, Cardano has more and more staking addresses, so there are more and more users who are interested in participating in the crypto currency in the long term. As PoolTool data shows, there are now more than a million staking addresses - a huge success that Hoskinson highlighted on Twitter:

Decentralized crypto exchange SundaeSwap starts test network

In addition to these advances, there has recently been another innovation that could give the cryptocurrency new impetus. A few days ago, the decentralized crypto exchange SundaeSwap implemented on the Cardano network opened a test network for interested crypto users who can try out the new platform and provide constructive feedback to help rid the exchange of any bugs before its official launch. With SundaeSwap, Cardano is taking another important step towards DeFi and is increasingly establishing itself as an alternative to the second largest crypto currency Ethereum, which is currently used primarily for use in the field of decentralized finance.
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