Records Spike In Its Wallet Growth, Here's Why

November 14, 2022

Cardano has recorded a spike in the number of wallets adding 33,097 in a week.

As of November 13, the figure stood at 3,671,522, while on November 7, the DeFi had 3,638,425 wallets, according to Cardano Blockchain Insights data. 

This spike comes as the crypto market continues to trade in the red zone following FTX crisis.

$Cardano is up by 1.38% and is running at $0.338810 USD with a 24-hour trading volume of $492,749,451 USD. 

Cardano founder Charles Hoskison suggested that the FTX saga might be the last crisis to hit the cryptocurrency market.

It is worth noting that the extended bear market was partly triggered by the Terra (LUNA) ecosystem collapse in May.

Cardano had recently attempted to find a bottom before the FTX crisis hit the market.