The past month has been hectic for Cardano (ADA) in several respects. At the beginning of the month, the American Securities and Exchange Commission (SEC) for much turmoil in the Cardano community by labeling ADA, like many other altcoins, as a security in the charges against both Binance and Coinbase. The cardano price took a beating, reaching levels last seen late last year when crypto market fears hit an all-time low.
Nevertheless, the network itself continues to take steps in the right direction. The number of wallets has grown steadily since the beginning of the month.
Cardano wallets
Since June 1, the Cardano network has averaged 2,446 wallets per day in total added. The network is now registering no less than 48,924 more wallets than at the beginning of the month. This brings the current number of Cardano wallets to 4,161,225.
Since the start of the year, the network has grown considerably in that respect. On January 1, the counter was still at 3,842,647 wallets, which means that the metric has increased by 8.3 percent.
In this sense, June 10 was the most successful day of the month of June so far, when 3,979 new wallets were created. June 18 proves to be the worst day with an increase of 1,498 wallets.
ADA recovers from turbulent period
The SEC has labeled a whole laundry list of altcoins as securities, but cardano was one of the coins that took the most beating. For example, cardano, like polygon (MATIC) and solana (SOL), was removed from Robinhood, a highly sought-after crypto platform in the United States. After this news came out, the price fell sharply.
In less than a week, cardano lost as much as 35 percent of its total value. While bitcoin (BTC) has now rocketed into the air and has reached the magical limit of $ 30,000, cardano is also turning green again.
Despite this, the losses from earlier this month have not yet been recovered and cardano still has some work to do in that regard.