Cardano’s decentralized finance (DeFi) activity has picked up recently, with decentralized exchanges recording a sharp increase in trading volume over the past week.
According to DeFiLlama data, Cardano’s DEX volume has surged 148% over the past seven days to $17.49 million. The increase points to stronger trading activity across Cardano-based DEXs.
Nonetheless, current volume remains well below the $101.89 million recorded in mid-August, when DEX volume surged 1,434% in a week.
While the latest increase signals renewed activity, it has not yet returned to the levels seen last month. Cardano currently records $2.18 million in 24-hour DEX volume, while its monthly volume stands at around $47.49 million.
SundaeSwap Leads Cardano DEX Activity
Among Cardano’s decentralized exchanges, SundaeSwap currently accounts for the largest share of trading activity across the daily, weekly, and monthly timeframes.
SundaeSwap processed $1.13 million in 24-hour volume, representing 51.83% of Cardano’s $2.18 million daily DEX volume.
Over the past seven days, the exchange recorded $7.66 million in volume, giving it a 43.79% share of Cardano’s $17.49 million weekly total. Meanwhile, SundaeSwap’s monthly volume stands at $19.36 million, accounting for 40.76% of the network’s $47.49 million total.
Other Cardano DEXs Contribute to Trading Activity
Other protocols have also contributed to Cardano’s recent trading activity. Dano Finance recorded $588,794 in 24-hour volume, followed by Minswap with $272,135, and WingRiders with $189,578. Splash Protocol recorded roughly $3,366.
Over the past week, the four protocols recorded $5.1 million, $2.96 million, $1.73 million, and $40,620, respectively.
Much of this trading activity centers on ADA-based pairs. For instance, WMTX/ADA on SundaeSwap, SNEK/ADA on Minswap, and USDM/ADA on WingRiders are among the pairs contributing to the reported volumes. As a result, ADA remains central to trading activity across Cardano’s DEX ecosystem.
Cardano DeFi TVL Soars Over 5% in 24 Hours
Meanwhile, Cardano’s broader DeFi market has also shown signs of improvement. DeFiLlama data puts the network’s total value locked (TVL) at $67.42 million, representing a 5.06% increase over the past 24 hours.
Minswap currently holds the largest share of Cardano’s TVL at $16.46 million. Liqwid follows with around $12.8 million, while Dano Finance has $6.7 million locked in its protocol.
