The total value locked on Cardano in ADA terms has been increasing steadily since hitting the 500-million-mark last month.
TVL, or the total worth of all crypto assets locked on the smart contracts, remains the most popular indicator among DeFi investors. A higher TVL means more liquidity and therefore higher chances of the project’s adoption.
At the time of publication, around 589.04 million ADA tokens were deposited in various DeFi protocols on Cardano. Although this may seem significant, compared to ADA’s circulating supply, it equated to a paltry 1.73%. It should be noted that staked ADA coins don’t make up for Cardano’s TVL, simply because ADA remains liquid even after staking.
In terms of dollar value, Cardano’s locked capital surged to yearly highs of $209 million in the past week. While Cardano pales in comparison to other major blockchains in terms ofDEX volume unimpressive Cardano’s decentralized exchange activity left a lot to be desired. After peaking in the last month of May, DEX volumes trended lower and stagnated over the past month.
Trades worth more than $43 million were settled on the network’s non-custodial exchanges over the past week. This represented a marginal fall of 1.66%.
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