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There are now 6,710 Cardano millionaires following latest ADA surge

May 18, 2021. Summarized by summa-bot.

Compression ratio: 44.3%. 1 min read.

Cardano is bucking the crypto market downtrend, having gained 19% over the past seven days.

Cardano has rewarded its investors with significant gains this year, with a growing number of holders joining the coveted millionaires’ club following the latest ADA price surge.

Since the start of the year, the number of millionaire investors in ADA has increased more than 13-fold to 6,710 as of May 17, according to United Kingdom-based news agency Finbold.

Using data from Coin Metrics, the agency determined that there were just 504 ADA addresses worth at least $1 million on Jan. 1.

The number of active ADA addresses also grew by 417. 81% between Jan. 1 and April 28.

ADA’s value has skyrocketed nearly 1,040% since the start of the year, up from $0. 18 to $2. 08 at the time of publication.

As Cointelegraph recently reported, ADA has entered a new price discovery phase, which means further upside could be in store over the short term.

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