Cardano’s (ADA) Total Value Locked (TVL) in January grew by over 9,000%

The Cardano Foundation revealed its on-chain statistics for January in a Twitter post yesterday. According to the team, the total value locked (TVL) on the blockchain in January was $75 million, up by more than 9,000%. There were also nearly three million wallets created last more.

Cardano (ADA) is an open-source Proof-of-Stake (PoS) blockchain network with its inception dating back to 2015. It utilizes a modified version of UTXO (EUTXO) to accommodate support for smart contracts, which is currently under development.

ADA is up by more than 1% in the last 24 hours and is trading at $1.078 at press time.

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