Charles Hoskinson Celebrates Cardano Reaching Staking Wallet Milestone
The popular crypto has a vast majority of its investors staking their ADA coins
Like many cryptocurrencies over the past couple of days, Cardano has taken some shots on the chin. However, a large group of investors remain as optimistic as ever about its future. This was reflected in the recent milestone reached of one million wallets staking the coin that was recognized and celebrated by its founder Charles Hoskinson.
On December 4th, Twitter user Jesse Blount posted a screen shot displaying how Cardano had just surpassed one million wallets staking it’s ADA token:
The tweet was almost immediately recognized by Hoskinson, who sent out his own three-word tweet of celebration:
After surpassing $3.00 per token earlier this fall, Cardano has sunk to its current level of $1.39, encompassing a market cap of $46.3 billion. While this has disappointed some investors, the crypto clearly still has numerous believers as reflected by their significant staking rates. In addition to having more than one million wallets staking Cardano, the total amount staked comes in at around $32.85 billion, or nearly 72% of the circulating supply.
The amount of Cardano that is staked indicates a large number of investors see the current negative price volatility as little more than white noise on the way towards its destiny. After all, it is still very early in an extremely important period of the coin’s growth, with smart contracts just barely coming online and many anxiously awaiting to see what fruit is produced from the many projects in the works on the network.