Number of ADA staked in the Cardano network has reached new highs2 min read
Cardano boasts the highest share of staked coins on offer. The Cardano community is home to long-term investors instead of seeking short-term market returns. This means that most investors have their shares stacked on the platform to serve as validators of the Proof of Stake mechanism.
The number of ADA staked in the network reached 73% of the outstanding supply
Blockchain has gained in popularity since announcing the function of smart contracts in September. Since then, various partnerships and usability initiatives have been announced. This move seems to have paid off, as Cardano recorded a record number of rolled coins from the total circulating supply this week, reaching an all-time high.
The number of ADA tokens staked in the Cardano network on Thursday reached a maximum of 73.15%, which is a very impressive number compared to the number of coins staked on competing networks. At present, the network has a total of 23.9 billion ADAs stacked among 921,323 delegates. The total ADA supply in circulation is only 33.26 billion coins, which means that only less than 10 billion is not stacked.
This indicates growing confidence in the future of the project, which some in the sector claim to be the blockchain of the future. An interesting fact of the Cardano network is that the coins are not locked. Unlike Ethereum, ADA holders are still able to transfer their stacked coins if they want to sell. However, a large part of his community opted for staking, which testifies to the faith of its holders in the project.
Cardano’s performance in the market
Despite impressive new partnerships and projects, Cardano did not do well in the crypto market. Altcoin has not followed the growing trend of BTC in recent weeks and tried to keep its value above $ 2. Short-term forecasts for the ADA are also generally bearish given the lagging momentum of a digital asset.
The ADA has fluctuated significantly recently, with altcoin falling below $ 2 for the first time in more than a month on Wednesday. The price of a digital asset recovered quickly after the crash. The forecasts for this asset remain bleak, especially now. As it has not yet tied to the rest of the market next to BTC, Cardano’s price could well record a $ 1.7 retest. lead to capital losses.