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We are curious how many receive addresses can possibly be generated for a given wallet?

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According to BIP44, which Cardano wallets are using, the index number of addresses is capped at 32 bits.

So you will be able to generate 4 294 967 296 addresses for one single HD wallet. The first half is reserved for non-hardened derivation and the other half is reserved for hardened derivation.

9

While there's definitely some limit determined by the encryption scheme used to generate the public keys associated with the master private key, their is no practical limit that I'm aware of.

Apparently the most recent wallet addresses (Shelley era) are in BECH32 format, which support 2^160 number of addresses. So, practically unlimited.

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