Main navigation

Cardano: Here Are Statistics as of Beginning of 2023, Here's What Changed

Tue, 01/03/2023 - 10:26
article image
Tomiwabold Olajide
Cardano ranks as second largest staking network
Cardano: Here Are Statistics as of Beginning of 2023, Here's What Changed
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Rick McCracken DIGI, a Cardano SPO, has shared the latest Cardano statistics as 2023 begins. He also provides a similar tweet, which he shared at the start of 2022, and no doubt the growth was evident.

According to the details given, Cardano accounts presently number 3.8 million, out of which 1.27 million are staked addresses. At the heart of the Cardano network are stake pool operators (SPOs). Presently, the number of pools has surpassed 3,000 and stands at 3,186.

According to staking rewards, Cardano ranks as the second largest staking network after Ethereum, with a staking market cap of $6.42 billion. DIGI shares that 25.14 billion ADA is the staked amount, which represents a staking participation of 73.51%.

Cardano's DeFi TVL is currently at $50.43 million, per DefiLlama data. With the inclusion of staking as calculated by DefiLlama, this figure is $66.36 million.

Though it is a late entrant into the DeFi space, there is still much room for Cardano to grow, as it currently ranks as the 27th largest DeFi chain.

Cardano Excelling in This Regard as Year Rounds Up: Details

Returning to the beginning of 2022, data provided by Rick McCracken DIGI shows a growth trend. At the time, there were 2.6 million Cardano accounts, with 1.04 million staked addresses. The number of Reddit users grew from 677,736 in 2022 to 696,288 at the start of 2023. The staking percentage also grew from 71.34% in 2022 to 73.51% at the present.

At the start of 2022 start, 24.12 billion ADA were in staking. Likewise, Cardano's DeFi had not kicked off. In the year 2022, Cardano's treasury balance attained the 1 billion ADA mark.

According to the latest statistics provided by the Cardano blockchain IOG builder, 1,151 projects are in various stages of development on the blockchain. So far, 111 projects have been launched.

At the start of 2022, there were barely more than 200 projects in development, with only a dozen having launched.

Expectations remain in place for the year 2023, in which Cardano enters Voltaire, which is the age of decentralized governance.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.