It has been three eventful weeks for the 5th most valuable cryptocurrency by market capitalization. During that time, ADA added over 50,000 new staking addresses. Up over 8% since the beginning of June, when ADA reported their final milestone, surpassing 600,000 addresses participating in staking.
According to the data, this recent outflow brings the total number of current ADA staking addresses to over 662,000. As well as 2,656 other active mining pools. At this time, the data also notes that the total amount of staking is $29 billion – 71% of the total supply.
ADA tracking El Salvador
El Salvador made history this month by becoming the first country in the world to officially adopt cryptocurrencies, namely bitcoin (BTC) as legal tender. And since then, Cardano's founder, Charles Hoskinson, has commented on the possibility that the country could adopt the ADA in a similar way.
Hoskinson revealed details during a recent live broadcast on YouTube about the possibility of acceptance in El Salvador. More specifically, he shared that his team is negotiating with the authorities in the country. He also hinted at a possible visit to El Salvador soon.
The Cardano founder also took time during his broadcast to answer questions about Mark Cuban and stablecoin Tether.
Other Cardano's activities
There's been momentum behind the scenes at Cardano this month. A regular video update from Input Output Hong Kong (IOHK), the co-developers of Cardano, reveals that Alonzo can now run smart contracts. Delivery team leader Dimitris Poulopoulos explains that contracts are simple at this stage.
This development is part of the Alonzo Blue phase – the first phase of Alonzo's rollout.
At the same time, Cardano also revealed that it had begun research into the viability of a “stable feed”.
IOHK stated in a blog post that stablecoins will provide fair and predictable prices for cryptocurrency transactions. Reports also indicate that Cardano hopes to build ledger guidelines for its existing platform to easily integrate stable feeds.
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