Cardano Adoption Surges As Number of ADA Wallets Breaks New All-Time High: CryptoCompare Report

New data shows that Ethereum challenger Cardano (ADA) is seeing a surge in adoption with the number of ADA wallets hitting a new all-time high despite a shaky April for the smart contract platform.

A new report by CryptoCompare shows that the number of addresses holding Cardano rose to a record high last month amid a significant surge in the number of hodlers, or entities that have kept their ADA stacks untouched for over a year.

Although the number of addresses with an ADA balance continues to grow, CryptoCompare points out that user activity on Cardano is starting to lose steam.

Looking at Cardano’s developer statistics, the firm highlights that the number of GitHub commits for the eighth-largest crypto project has slightly increased from 5,623 in March to 5,723 in April while the total number of contributors remained steady at 111.

Cardano is changing hands at $0.780 at time of writing, a 13% decrease from its seven-day peak of $0.897.