Cardano Achieves Significant Milestones, Reports Monthly On-Chain Growth

Gerolamo Cardano, an Italian polymath, inspired the development of the Cardano token, which debuted in 2017. Charles Hoskinson, the creator of Cardano, revealed details about the Alonzo hard fork in August 2021. As a result of this announcement, Cardano’s price jumped by 116% the following month.

Like the Ethereum merge, the launch of the Vasil hard fork was one of the team’s most highly anticipated updates. Despite some difficulties encountered along the way, the hard fork was a success.

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According to the latest details from the Cardano Foundation, the blockchain has exhibited positive on-chain statistics over the past month.

The details from the graph show that the native tokens on the blockchain have spiked by 2.63%, with over 8.07 million native tokens. There has also been a significant increase in the number of wallets, up 1.44% to over 4.02 million.

The number of delegated wallets spiked slightly by 0.48% to 1.28 million. The TVL metric indicates the extent to which the blockchain’s DeFi ecosystem is growing. As of March 22, Cardano’s TVL reached a new peak of 378.24 million ADA.

ADA was recently dethroned by Dogecoin after DOGE surged. However, ADA has regained its seventh rank and is trading at $0.3926 at press time.