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.