Skip to content
DefiDraft

DefiDraft

Empowering the Future of Finance: Stay Ahead with our DeFi News

Categories

  • AI
  • Altcoin
  • Bitcoin
  • Blockchain
  • Blogs
  • CHARTS
  • Crypto
  • DeFi News
  • Defipedia
  • Ehtereum
  • Guest Post
  • Metaverse
  • Mining
  • News
  • NFT
  • Press Release
  • Review
  • Sponsored Post
  • Trading
  • Wallets
  • Web3
  • DeFi News
  • Defipedia
  • Review
  • Advertise
  • Home
  • DeFi News
  • Cardano’s Total Value Locked Sets a New Record
  • DeFi News

Cardano’s Total Value Locked Sets a New Record

Debangshu March 10, 2023 2 min read
Cardano's Total Value Locked Sets All-Time High Record

Cardano's Total Value Locked Sets All-Time High Record

Cardano’s decentralized finance (DeFi) ecosystem continues to gain popularity, with the total value locked in its various protocols reaching new heights. According to data from DeFiLama, Cardano’s TVL surged to $106.33 million at the time of writing, surpassing its previous records.

Since the beginning of 2023, the Cardano network continued to witness tremendous growth, the total value locked on the Cardano network at the beginning of 2023 was around $49 million and has since surging rapidly. Cardano’s prices also see tremendous growth, from around $0.25 at the beginning of 2023 to roughly $0.32 at the time of writing.

The Rise of Cardano’s DeFi Ecosystem

Cardano’s DeFi ecosystem has been growing swiftly in recent months, with the rise of several new protocols and platforms including Minswap as the platform has emerged as the leading decentralized finance protocol on the Cardano network, with a total value locked of more than $40 million.

One of the reasons for the rapid adoption of Cardano’s DeFi ecosystem is the platform’s scalability and low transaction fees. This makes it more accessible for users and developers to build and use DeFi applications on the network.

How will this Growth Benefit Cardano Network?

Cardano’s rising DeFi ecosystem has attracted several investors and developers. The experts see Cardano as a third-generation blockchain that will become a hub for decentralized finance and other applications in the near future. As the platform continues to evolve and more applications are unveiled, it is likely that the TVL in Cardano’s DeFi ecosystem will continue to rise.

Overall, Cardano’s DeFi ecosystem is indicating no signs of slowing down. However, even after reaching the all-time high record, Cardano has to struggle a lot to surpass BNB Chain, which holds a TVL worth $4.74 billion. However, with Cardano’s excellent infrastructure, it is well-positioned to become a major player in the world of DeFi soon.

Debangshu

Debangshu is a content writer specializing in the Crypto and DeFi beats. Moreover, he holds 3 years of writing experience in technical niches. He has produced content for a wide range of publications and news outlets, ranging from cryptocurrency-oriented websites to corporate websites.

Post Views: 924
Tags: blockchain Cardano Cardano Network DeFi Protocols protocol

Continue Reading

Previous: Cyber Security Researchers at Aston University Underscores the Lack of Regulatory Oversight in the DeFi Sector
Next: Banks Are a Barrier to DeFi, Says Charles Hoskinson

Latest Post

Recent Posts

  • Rebase Integrates with LayerZero to unleash Cross-Chain Potential!
  • A Promise to Prioritizing Crypto Users’ Interests From Products to Services
  • CoinEx Takes the Center Stage as the Official Title Sponsor for BlockTalks Event in Bengaluru
  • AFAQ Group Announces the 24th Financial Expo-QFEX
  • AFAQ Group Announces Innovation Digital Economy Summit-IDES

Ecosystem

Rebase Integrates with LayerZero to unleash Cross-Chain Potential!
2 min read
  • Press Release

Rebase Integrates with LayerZero to unleash Cross-Chain Potential!

December 8, 2023
A Promise to Prioritizing Crypto Users’ Interests From Products to Services
2 min read
  • News

A Promise to Prioritizing Crypto Users’ Interests From Products to Services

December 7, 2023
CoinEx Takes the Center Stage as the Official Title Sponsor for BlockTalks Event in Bengaluru
3 min read
  • Press Release

CoinEx Takes the Center Stage as the Official Title Sponsor for BlockTalks Event in Bengaluru

December 7, 2023
AFAQ Group Announces the 24th Financial Expo-QFEX AFAQ Group Announces the 24th Financial Expo-QFEX
2 min read
  • Press Release

AFAQ Group Announces the 24th Financial Expo-QFEX

November 30, 2023

About

Defidraft is the ultimate source for the latest news and analysis on the world of decentralized finance.

Connect with Us

  • Twitter
  • Instagram
  • Facebook
  • LinkedIn
  • Telegram

Chat with us: @Defidraftofficial

Recent Posts

  • Rebase Integrates with LayerZero to unleash Cross-Chain Potential!
  • A Promise to Prioritizing Crypto Users’ Interests From Products to Services
  • CoinEx Takes the Center Stage as the Official Title Sponsor for BlockTalks Event in Bengaluru
  • AFAQ Group Announces the 24th Financial Expo-QFEX

TAGS

Binance Bitcoin blockchain Cardano Crypto cryptocurrency decentralized finance deFi DeFi Hack DeFi Protocols ethereum future of DeFi News Ripple SEC SHIB Shiba Inu technology US XRP

  • News
  • Press Release
  • Sponsored Post
  • Our Partners
  • Contact Us
Copyright © DefiDraft | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$38,203.003.05%
  • ethereumEthereum(ETH)$2,075.352.87%
  • tetherTether(USDT)$1.00-0.01%
  • binancecoinBNB(BNB)$231.702.26%
  • rippleXRP(XRP)$0.611.95%
  • solanaSolana(SOL)$58.066.01%
  • usd-coinUSDC(USDC)$1.000.18%
  • cardanoCardano(ADA)$0.3871122.25%
  • dogecoinDogecoin(DOGE)$0.0806042.88%
  • avalanche-2Avalanche(AVAX)$20.791.85%
  • matic-networkPolygon(MATIC)$0.751.64%
  • polkadotPolkadot(DOT)$5.272.85%
  • litecoinLitecoin(LTC)$70.131.84%
  • shiba-inuShiba Inu(SHIB)$0.0000081.26%
  • crypto-com-chainCronos(CRO)$0.0945322.90%
  • binance-usdBUSD(BUSD)$1.000.18%
  • terra-lunaTerra Luna Classic(LUNC)$0.00012016.21%