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Cardano has Over 50,000 Staking Address

Statistically, the staking address of Cardano (ADA) has spiked with additional 50,000 addresses, enhancing its overall number of staking addresses by approximately 8% in less than a month, according to data provided by Pooltool.

ADA’s total number of staking wallets totalled 608,391 from 2,561 active pools in early June, recording another milestone for the platform; however, the platform has now confirmed 658,965 staking addresses.

Moreover, the proof-of-stake blockchain platform has been parading the terrain of mouthwatering developments, such as the Cardano creator ‘Charles Hoskinson’ announcing that the platform plans to publish a research paper on algorithmic Stablecoins in the coming weeks.

Hoskinson’s announcement has augmented Cardano’s market buzz. Recently, due to improvements and acceptance in the community, the blockchain’s native cryptocurrency ADA has witnessed tremendous growth.

The platform also announced they’re on the verge of exploring the viability of ‘Stablefees,’ which by pegging to a collection of currencies, the system attempts to create basic pricing for transactions. The inclusion of Stablefees is to provide transaction cost that is low, fair and predictable, according to Cardano.

Cardano in Talks With El Salvador

The CEO has communicated with authorities and political parties in El Salvador, and a potential meeting with Nayib Bukele on the horizon.

Since ADA and most of the market have been at a steep downtrend of late due to the current outrageous bearish rally, the correlation between ADA and BTC has risen from $0.29 to $0.62 in the recent week, with the 113 percent increase implying the price of Bitcoin impacts the price of Cardano.

Nevertheless, the open-source project is growing fast despite the crypto market’s sharp correction; with variety of things occuring in the space of the blockchain platform, time will tell whether the staking statistics of the digital asset will continue to increase at such a rate.

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