Following the rise of the cryptocurrency Cardano (ADA), the number of millionaires who decided to hodl this altcoin also naturally increased. The total number of Cardano millionaires is currently 6,710, an increase of 1,241.34%, and it only beautifully shows how only few people have patience with long-term hodling.
The number of active ADA addresses increased by 417.81% from the beginning of the year to 28 April, while the value of the investment increased by more than 1 000% from the beginning of the year. The biggest direct competitor of this cryptocurrency is Ethereum, which also experienced a relatively large rally, with this cryptocurrency reaching a new All-Time High (ATH) with almost every move. Interestingly, although the crypto market has been falling in recent days, Cardano has managed to grow by 19%, with Bitcoin (BTC) down about 22% and Ethereum (ETH) down 15% over the same period. Of course, today’s dump has already caused a decline in this cryptocurrency.
In addition to cheaper transactions, Cardano has an advantage over Ethereum cryptocurrency, for example, in using the Proof-Of-Stake (PoS) consensus algorithm, which we know is significantly more efficient and environmentally friendly than the main competitor and still the most widespread consensus, Proof-of-Work (PoW). The market value of the Cardano is currently $56 billion, making it the fifth largest cryptocurrency.