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HomeCrypto NewsMarketPopular Cardano DEX Danogo Sees 10X Growth in TVL  

Popular Cardano DEX Danogo Sees 10X Growth in TVL  

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The total value locked (TVL) on popular Cardano-based decentralized exchange Danogo soars nearly 10X over the past seven days. 

Leading Cardano-based decentralized exchange Danogo has highlighted the dramatic increase in the total value locked (TVL) on its protocol. 

Danogo’s TVL Spikes Nearly 10X in Seven Days 

In an X post today, Danogo pointed out that its TVL surged nearly tenfold over the past seven days. Following the jaw-dropping milestone, Dango claimed to be the leading Cardano-based protocol with the highest TVL change in the past seven days. 

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Data attached to the tweet shows that Danogo’s TVL spiked 921.43% within this timeframe, bringing the protocol’s total value of assets locked to 4.1 million ADA ($1.84 million). 

It bears mentioning that Danogo surpassed the second project in the leaderboard by a large margin. According to the data, Fluid NFT Collateral Lending sat in the second position, boasting a TVL surge of 98.21% in the past week. 

Furthermore, Lenfi, Optim Finance, and Levvy ranked as the third, fourth, and fifth Cardano-based protocols with the most TVL growth in the weekly charts. The weekly TVL changes recorded across these protocols amounted to 27.15%, 14.21%, and 12.22%, respectively. 

Danogo Lags Behind in Cardano TVL Leaderboard  

At press time, the total value of assets locked on Cardano is currently around $251.33 million. Minswap, Indigo, and Liqwid are the three most dominant Cardano protocols, boasting TVLs of $68.08 million, $58.61 million, and $31.28 million, respectively.  

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Despite Danogo’s TVL surge in the weekly charts, the DEX is still nowhere close to the leading Cardano-based protocols by total value locked. 

According to data from DefiLlama, Danogo is currently ranked 14th, with a TVL of $2.07 million. The figure marks a 24-hour surge of 10.42%, a 561% increase in the past seven days, and a monthly growth of 365%. 

Danogo is a Cardano-based decentralized exchange that facilitates the trading and listing of Bond Tokens issued by Optim without requiring any central intermediaries. 

The protocol recently witnessed a surge in user activity following a growing interest in Bond tokens. Earlier this week, Danogo said it issued 1 million ADA Bond tokens in 24 hours. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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