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Cardano (ADA) Founder Charles Hoskinson Says Network’s Total Volume Locked (TVL) Will Surge in June 2022

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Charles Hoskinson Says Network’s Total Volume Locked (TVL) Will Surge in June 2022.



Despite Cardano (ADA) total value locked (TVL) surging above 194x since January 2022, Charles Hoskinson, CEO and founder of the blockchain network, has described the growth as the tip of the iceberg. 

According to Hoskinson, the TVL on Cardano will experience sensational growth in the coming months after the release of the Vasil hardfork, an upgrade that will enhance the activation of Cardano-based decentralized applications (dApps). 

Speaking about the upcoming hard fork and its significance to decentralized applications, Hoskinson said due to the upgrade’s pipelining benefit, several dApps are waiting for the update to go live in June this year before they will officially launch on Cardano. 

“What most also don’t understand is that many Cardano dApps are waiting for the Vasil hard fork in June to launch to benefit from pipelining. So it seems we ain’t seen nothing yet on TVL,” Hoskinson tweeted in response to an enthusiast’s post who seemed happy about the growth in Cardano’s total value locked. 

Cardano’s TVL Significant Rise this Year 

Per data on DeiLlama, Cardano’s TVL is currently around $187.59 million in USD, with the volume surging from the $822,261 recorded in the beginning of the year. 

The interesting part of the data is that the volume is obtained from only four out of the six decentralized exchanges (DEXs) currently on Cardano. 

While there are only six DEXs that have launched on Cardano, more decentralized exchanges are building their trading platforms in order to make a full debut on Cardano. 

Growing Adoption of Cardano

As stated by the Cardano founder, who was accused of lying about his educational background, the network will release a number of significant upgrades in the coming months that could further boost the value of its native cryptocurrency ADA. 

This assurance has prompted the widespread adoption of Cardano in recent times, with whales leading the accumulation spree. 

Earlier this week, Cardano whales with between 100,000 and 1,000,000 ADA bought a whopping 16 million ADA in 24 hours. 

At press time, a unit of ADA is trading around $0.81, having surged 1.8% in the last 24 hours, according to data on Coingecko. 

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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