By Tina Mutare
In fact, Cardano was down 33.1% over the last week and fell 40.9% in total from its May 16 $2.25 ATH. In comparison, BNB declined 47.7% in the same timeframe causing the crypto to lose ground to ADA.
Notably, Cardano achieved these milestones in the midst of a crypto market-wide slump. For instance, the entire crypto market fell by over 30%. At the same time, Bitcoin price fell to just above $33,000, the crypto’s lowest price since February.
For this reason, ADA’s recent performance is all the more impressive. The bullish altcoin continues to thrill fans by breaking records and through its development.
In fact, the Cardano network just recorded over 1 million wallets earlier today.
The new development came at an opportune time as Binance recently revealed that staking ETH on Ethereum could lead to a lock-up duration of up to 24 months. As such, users are finding Cardano a more and more attractive Ethereum alternative. iMining, a Canadian crypto mining company, has in fact declared its intent to start staking ADA soon.