Cardano successfully rolls out major update, total ADA value reaches $200 million

On February 14, 2022, the Cardano blockchain made one of the most important updates of 2022. Will this update be strong enough to end the month-long ADA halving?

Storage limit for script Pluto increased, but price ADA falls below $1

Input Output Global, the software development team responsible for developing solutions for the Cardano blockchain notification that the latest update of Cardano’s codebase is now up and running.

From February 19, 2022, they will discontinue observation mode. This mode is designed to increase Cardano’s capabilities and decentralization barriers for better dApp (decentralized application) performance.

Any Plutus script (a software program dedicated to Cardano) can now use more processing power on the network – at 12%.

In addition, as noted by architecture director John Alan Woods, Cardano’s block size has increased to 80 kilobytes.

At the same time, the price of ADA fell to its lowest level since mid-February 2021. Today, ADA is changing hands on major spot platforms for $0.97. It can be seen that its price has not been too low since February 23, 2021.

However, ADA has lost more than 66% from its September 2021 all-time high of over $3.

Total locked value of ADA reaches $200 million

The Cardano ecosystem keeps growing as the total locked value nears $200 million. SundaeSwap, the first DEX on Cardano, makes up the bulk of it.

Total Locked Value (TVL) is the total value of cryptocurrencies placed in a decentralized financial protocol. This indicator is an important statistic to gauge interest in this particular segment of the crypto market.

CARDANO TOTAL BLOCKED

the @Cardano TVL keeps increasing day by day ????@SundaeSwap is leading#Cardano #ADA $ADA $SUN CUP $MELD @MELD_labs @VyFiOfficial @MuesliSwapTeam pic.twitter.com/mPdfCT4wHZ

— Cardano Daily (@cardano_daily) February 18, 2022

“Total blocked Above Cardano steadily increasing day by day. Sundaeswap is the leader”.

The Cardano blockchain has reportedly grown significantly over the past few months along with a rapidly increasing transaction volume. According to recent data from DeFi Llama, the number of transactions increased when TVL hit $126.18 million on SundaeSwap.

TVL is likely to continue rising with the arrival of many new DeFi projects in the coming weeks. IOHK suggests that OccamX’s integrated partnership with Milkomeda, a Layer 2 protocol dedicated to providing EVM-compatible functionality to incompatible blockchains, could launch the first public DEX on Cardano in February.

mount Cardano based project hit the mark 492

According to information, 492 projects are currently being built on Cardano To update latest from IOHK Communications Director Tim Harrison. At the end of December the number was 175 projects and has been increasing since then.

Source: Tim Harrison

After the successful launch of the Alonzo hard fork upgrade in September 2021, the smart contract functionality was activated on the Cardano network. Just a few months later, Cardano is the second largest smart contract platform after Ethereum in terms of market capitalization Data by Messari.

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