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.<\/p>\n
A new report<\/a> 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.<\/p>\n \u201cT<\/em>he number of addresses holding ADA grew 2.99% to an all-time high of 5.20 million in April. This includes an increase in the number of hodlers from 529,000 in March to 679,000 in April. Short term traders declined 44.6% to 377,000.\u201d\u00a0<\/em><\/p>\n 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.<\/p>\n \u201cActivity on the Cardano blockchain experienced a significant hit in April. Monthly transactions fell 62.2% to 1.17 million, while average active addresses also fell 57.7% to 52,000. Average daily new addresses saw a similar decline of 59.1% to 23,200.\u201d<\/em><\/p>\n Looking at Cardano\u2019s 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.<\/p>\n Cardano<\/a> is changing hands at $0.780 at time of writing, a 13% decrease from its seven-day peak of $0.897.<\/p>\n Check Price Action<\/a><\/span><\/em>
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