Saturday, August 13, 2022
Home Crypto News Market Cardano (ADA) Total Value Locked (TVL) Hits New All-Time High

Cardano (ADA) Total Value Locked (TVL) Hits New All-Time High

- Advertisement -

Cardano (ADA) Hits a New All-Time High of $134M in Total Value Locked (TVL).

Smart contract activity on Cardano has received a significant boost in recent times, as more users are taking advantage of the feature to increase their returns. 

The Cardano network recorded a new feat today, as its total value lock (TVL) has reached an all-time high. 

According to data provided by Defi Llama, a decentralized finance on-chain metric data analytic platform, Cardano has reached a new all-time high of $134.86 million across various decentralized exchanges. 

cardano total value locked hits new all time high

SundaeSwap Leads the Way

While a handful of decentralized exchanges (DEXs) have already made their debut on the network following the support of smart contracts, a vast majority of the TVL is currently on SundaeSwap (SUNDAE). 

According to the data, SundaeSwap accounts for 89.86% of all TVL locked on the network, representing $121.19 million of the total sum. 

The second DEX on the list is Minswap, which has a record of $11.57 million in TVL on the platform. Other DEXs in the list include MuesliSwap and ADAX Pro, which have $2.08 million and $16,800, respectively. 

It is worth noting that the previous all-time high was recorded last month when the TVL across Cardano-based decentralized exchanges hit $118.95 million, which represented a 5,776% increase from what was recorded in January. 

Cardano TVL to Surge 

Following a promising start to March, many Cardano enthusiasts envisage that the TVL could spike to $200 million by month-end, which sets the network on the path of being considered as a significant DeFi proponent. 

While the growth of Cardano TVL could be seen as slow, volume is expected to surge when more decentralized exchanges finally deploy on the blockchain. 

As reported, a number of DEX are considering launching on Cardano in the coming weeks, which could see rapid growth in the TVL, and the blockchain can finally compete with other notable projects like Ethereum and Solana. 

- Advertisement -


The content is for informational purposes only and 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.

Ammara Mubin
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

IOG Says “Getting Things Right” Is The Priority After Cardano Investor Asked When Vasil Will Launch

  IOG has responded to ADA investors who are eager to know the exact date for the launch of the Vasil hard fork.  Input Output Global...

The Deputy Minister Of Digital Transformation Says Ukraine Should Launch A CBDC

Alex Bornyakov is in support of a digital hryvnia. In a four-tweet thread on Friday, Ukraine's Deputy Minister Of Digital Transformation, Alex Bornyakov, argues that...

Shiba Inu Lead Developer Gets A Harsh Response From “Can You Pet The Dog”

  "Can You Pet The Dog" Shuns Shiba Inu Game, Shiba Eternity As It Wants Nothing To Do With Crypto Projects. ...

Shiba Inu And BONE Becomes Top Trending Coins in Asia, USA, and Canada

Shiba Inu and Bone are trending worldwide. window.coinzilla_display = window.coinzilla_display || ; var c_display_preferences...

NOWNodes Adds Support for Shiba Inu Burn Portal Reward Token Ryoshi Vision (RYOSHI)

  The listing of RYOSHI will enable developers to build on Ryoshi Vision via NOWNode's platform. window.coinzilla_display =...

71,225 XRP Holders Now Stand With Ripple Against SEC, Deaton Says All XRP Investors Are Leaders Of XRPArmy

  The Amici attorney has commended XRP investors for their collaboration toward Ripple’s legal battle against the SEC.  ...

One Year After Burning Mechanism Launched, 2.5 Million Ethereum Worth $5B Burnt, Is ETH Becoming Deflationary?

  About 2.1% of Ethereum's circulating supply has been burned since the London hard fork. window.coinzilla_display = window.coinzilla_display...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.