Cardano‘s founder Charles Hoskinson tweeted that the network reached an “incredible milestone” as the number of wallets staking ADA reached 1 million. This feat records an almost 1000% growth in less than a month.

Cardano’s Proof-of-Stake consensus mechanism allows ADA holders to delegate their tokens in order to participate in the network and earn rewards according to the amount that they have delegated. Over 71% of all ADA currently in circulation has been staked, which was worth around $33 billion at press time.

By Amy Liu