Charles Hoskinson Says Cardano (ADA) Total Value Locked (TVL) will Keep Rising. Here’s Why

Charles Hoskinson, the CEO of IOG, who created Cardano (ADA), has recently stated that the total value locked (TVL) in the blockchain project will keep increasing due to an upcoming hard fork that is expected to activate decentralized applications (DApps) built on top of Cardano network.

Vasil Hardfork Playing Out in June Will Activate Cardano DApps

According to DeFiLlama, a DeFi TVL aggregating platform, the total value locked in Cardano has been on a massive increase since January 2022. It has increased from $1.7 million recorded at the start of the year to $180 million.

Hoskinson revealed that Vasil hard fork is playing out in June 2022 to activate Cardano DApps, which will in turn aid the increase in Cardano (ADA) total value locked (TVL)

Charles Hoskinson tweeted, “What most also don’t understand is that many Cardano DApps are waiting for the Vasil hardfork in June to launch to benefit from pipelining. So it seems we ain’t seen nothing yet on TVL.”

Cardano TVL Experiencing Massive Growth

DeFiLlama, the DeFi TVL aggregating platform also provides information about the number of staked governance tokens that are included in Cardano’s TVL valuation. By adding the staked governance tokens to Cardano’s total TVL, the number demonstrates a higher range of TVL, i.e. $261.3 million at the time of filing this report.

DeFiLlama further shows Cardano’s total value locked in decentralized exchange DEX platforms such as SundaeSwap and a non-custodial banking protocol Meld. While SundaeSwap is dominating the charts with nearly $115.09 million total value locked at the time of writing, DeFi banking protocol Meld comes a close second, posting $66.8 million worth of Cardano locked at the time of press.

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Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.