[Blockchain Today Reporter Ji-Hye Han] It was confirmed that the number of Cardano millionaires increased by 1,300% this year.
According to Coin Metrics data from Cointelegraph, Cardano investors have benefited significantly from the recent ADA price surge, and as a result, more investors are joining the Millionaire Club.
According to Finbold in the UK, the number of ADA millionaire investors was 6,710 as of May 17 (local time), an increase of more than 13 times this year. According to Coinmetric’s data, as of January 1 of this year, only 504 addresses were over $1 million.
From January 1 to April 28, the number of active ADA addresses also increased by 417.81%. The value of ADA surged from $0.18 at the time of publication to $2.08, and soared nearly 1,040% this year. The cryptocurrency was close to its highest price of $2.40 a week ago, breaking highs several times in the process.
According to a recent Cointelegraph report, ADA has entered a new price discovery phase, which means there is room for further gains in the short term. The cryptocurrency currently has a market capitalization of $661 billion and is ranked 4th among active projects. ADA has overtaken DOGE, Tether (USDT), and Ripple (XRP) among the latest rising trends.
Another important point is that ADA is currently reversing the decline in the cryptocurrency market. Over the past seven days, the ADA has achieved a 19% appreciation. In comparison, Bitcoin (BTC) decreased by 22.6% and Ethereum (ETH) decreased by 15.2%.
Not only does Cardano have one of the industry’s most dedicated cryptocurrency communities, it is also gaining momentum from the positive news from Input Out Hong Kong (IOHK). The developer of the smart contract platform recently announced that the Alonzo upgrade will be rolled out to the mainnet gradually over May and June.
IOHK recently partnered with the Ethiopian government to reorganize the education system in African countries. IOHK plans to distribute blockchain solutions nationwide that can benefit up to 5 million students through this alliance.
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