- Gerolamo Cardano inspires development of Cardano token, which saw a 116% price jump after the announcement of the Alonzo hard fork by creator Charles Hoskinson in August 2021.
- Cardano blockchain is exhibiting positive on-chain growth, with a spike in native tokens, wallets, and DeFi ecosystem.
Cardano is a proof-of-stake blockchain platform and cryptocurrency that was launched in 2017. The platform is aimed at providing a more balanced and sustainable ecosystem for decentralized applications and smart contracts. Its creator, Charles Hoskinson, has been actively working on its development, and the recent success of the Vasil hard fork has been one of the team’s most highly anticipated updates.
According to the Cardano Foundation, the blockchain has exhibited positive on-chain statistics over the past month. The on-chain growth is remarkable, with a spike in the number of native tokens on the blockchain by 2.63%, with over 8.07 million native tokens.
In addition, the number of wallets has increased by 1.44%, totaling over 4.02 million, and delegated wallets increased by 0.48% to 1.28 million. The total value locked (TVL) metric also indicates that the blockchain’s DeFi ecosystem is growing, with Cardano’s TVL reaching a new peak of 378.24 million ADA as of March 22.
— Cardano Foundation (@Cardano_CF) April 5, 2023
The success of Cardano is not limited to its on-chain growth. The Cardano token, ADA, has also been performing well. Although it was recently dethroned by Dogecoin after DOGE surged, ADA has regained its seventh rank and is trading at $0.3926 at press time. The platform’s recent success can be attributed to the announcement of the Alonzo hard fork by Charles Hoskinson in August 2021, which saw the price of the token jump by 116% the following month.
Cardano’s future looks promising, with the platform’s focus on providing a more sustainable and decentralized ecosystem for smart contracts and decentralized applications. The success of the Vasil hard fork and the positive on-chain growth of the blockchain are indicative of the platform’s potential for growth and adoption. As the cryptocurrency market continues to evolve, it will be interesting to see how Cardano continues to innovate and grow in the years to come.