The number of ADA holders grow despite the bear market

Total Value Locked (TVL) makes a new ATH regularly. That’s definitely a good thing for DeFi, but it’s not the only important indicator we should be concerned about. More important is the activity on the network and the number of users. Cardano is growing in these stats as well. In this article, we will focus on the number of non-zero balance accounts.


The Shelley and Alonzo hard forks were significant milestones for Cardano. Account growth increased 12-fold in 2 years based on these events. The number of new accounts continues to grow in the current bear market. Cardano is slowly getting into a similar situation as Ethereum in 2017 when the number of accounts grew 4-fold. Cardano has a chance to reach the 10M account mark with non-zero balances in 2025. If that happens, Cardano will be almost unstoppable.

This article was prepared by Cardanians with support from Cexplorer.

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