Block Journal
No Result
View All Result
  • Login
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
Magazine
Newsletter
  • Trending Now
  • Bitcoin
  • Altcoin
  • Ethereum
  • Analysis
  • Blockchain
  • Metaverse
  • NFT
  • DeFi
  • Web3
  • GameFi
  • ICO
  • Legal
  • Security
Block Journal
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
No Result
View All Result
Block Journal
No Result
View All Result
  • News
  • Crypto
  • Markets
  • Investing
  • Videos
  • Charts
Home Crypto DeFi

Cardano’s DeFi ADA tokens TVL touches new all-time high of 341M

News Room by News Room
March 11, 2023
in DeFi
Reading Time: 2 mins read
0 0
A A
0

Ad

Bitget

The total value of assets locked (TVL) on Cardano in terms of the ADA token reached a new all-time high of 341.42 million on March 7, according to DeFillama data.

The ADA token TVL  has fallen to 333.16 million as of press time.

In US Dollar terms, Cardano’s DeFi TVL sits at $110.39 million, a far cry from its all-time high of over $300 million.

Cardano DeFi activities grow

Decentralized finance (DeFi) activities on the Cardano network have grown in the current year with the launch of several new protocols.

In January, Cardano’s overcollateralized stablecoin Djed saw its TVL cross $10 million during the first 24 hours of its launch. Since then, the project has grown in leaps and bounds and currently accounts for more than 10% — over 31 million ADA —  of the tokens locked in the network.

Besides Djed, the top three Cardano DeFi protocols, Minswap, WingRiders, and Indigo, have grown their TVL in the past 30 days. According to DeFillama data, Minswap’s TVL rose 13% to $40.27 million, while WingRiders and Indigo increased by 0.86% and 1.50% to $16.83 million and $16.76 million, respectively.

Other DeFi protocols like Aada and Liqwid also recorded significant growth during the reporting period.

NFTs flourishes

Besides DeFi activities, the Cardano network has also seen an increased interest in non-fungible tokens (NFTs).

According to data from Dapps on Cardano, NFT marketplace JPG.store saw more transactions in the last six epochs than decentralized exchanges like Minswap, SundaeSwap, and MuesliSwap.

Besides that, the amounts of unique accounts interacting with the marketplace are more than that of Minswap and SundaeSwap combined.

Cardano founder Charles Hoskinson highlighted the growth of NFTs in the ecosystem in a March 6 podcast where he said:

“The thing about NFTs in Cardano is it is the most vibrant part of Cardano at the moment. It’s the fastest moving – 8 million assets have been issued. I think more than half the projects are in some way NFT-related, and it’s just exciting to see that level of durability, resilience, passion, and excitement.”

ADA price still struggling

Meanwhile, the positive growths in Cardano’s DeFi and NFTs ecosystems have not translated into a positive price performance for the ADA token.

According to CryptoSlate’s data, ADA is down 1.93% to trade at $0.31994 as of press time. The digital asset has decreased over the last 30 days, falling by around 20%.

IntoTheBlock data showed that 87% of Cardano investors are currently holding the token at a loss.

Read the full article here

ShareTweetSharePinShareShareSend

Related News

Solana DeFi achieves 204% YTD growth amid 10% SOL price rally
DeFi

Solana DeFi achieves 204% YTD growth amid 10% SOL price rally

November 29, 2023
Solana’s user engagement surges with influx of new participants
DeFi

Solana’s user engagement surges with influx of new participants

November 28, 2023
dYdX Chain completes mainnet migration, rolls out $20 million in DYDX token rewards
DeFi

dYdX Chain completes mainnet migration, rolls out $20 million in DYDX token rewards

November 28, 2023
Crypto Forensic Investigator Calls for Urgent Attention to DeFi Risks
DeFi

Crypto Forensic Investigator Calls for Urgent Attention to DeFi Risks

November 28, 2023
BONE Features in Binance DeFi Section, Hinting at Upcoming Binance Listing
DeFi

BONE Features in Binance DeFi Section, Hinting at Upcoming Binance Listing

November 27, 2023
Ripple VP Invites Devs to XRP Ledger DeFi Hackathon
DeFi

Ripple VP Invites Devs to XRP Ledger DeFi Hackathon

November 26, 2023
mSOL in Kamino Finance now accounts for Marinade Earn
DeFi

mSOL in Kamino Finance now accounts for Marinade Earn

November 24, 2023
Cardano Welcomes New DEX Amid Historical DeFi Growth
DeFi

Cardano Welcomes New DEX Amid Historical DeFi Growth

November 24, 2023
Uniswap DAO to weigh giving ‘underrepresented’ delegates more voting power
DeFi

Uniswap DAO to weigh giving ‘underrepresented’ delegates more voting power

November 23, 2023

Discussion about this post

Latest News

Canadian Dollar flat against the US Dollar after US GDP beats the street

Canadian Dollar flat against the US Dollar after US GDP beats the street

November 29, 2023
Investors tiptoe back into US bank stocks, regulators probe SVB collapse

Exxon CEO Darren Woods likely to attend COP28 – sources

November 29, 2023
Intuit first-quarter results top estimates, but earnings guidance falls short

Intuit earnings beat by $0.49, revenue topped estimates

November 29, 2023
General Motors bondholders also see things to cheer in shareholder-rewards program

General Motors bondholders also see things to cheer in shareholder-rewards program

November 29, 2023
Wall Street strategists actually called 2023 correctly — apart from these seven stocks

Wall Street strategists actually called 2023 correctly — apart from these seven stocks

November 29, 2023
ADVERTISEMENT

Popular

  • Stablecoin NZDD Pegged To The New Zealand Dollar Launched

    Stablecoin NZDD Pegged To The New Zealand Dollar Launched

    0 shares
    Share 0 Tweet 0
  • Here’s why you might not have to pay a 6% commission next time you sell a home

    0 shares
    Share 0 Tweet 0
  • The rally in both bonds and stocks looks unsustainable – Nordea

    0 shares
    Share 0 Tweet 0
  • Vista Outdoor considers $30 per share merger offer from Colt CZ Group

    0 shares
    Share 0 Tweet 0
  • Solana’s genesis story — Anatoly Yakovenko’s vision for a high-performance blockchain

    0 shares
    Share 0 Tweet 0
Block Journal

Block Journal is the world’s leading source in blockchain news and updates. Follow us to stay up-to-date with all you need to know in web3.

LEARN MORE »

Recent Posts

  • Canadian Dollar flat against the US Dollar after US GDP beats the street
  • Exxon CEO Darren Woods likely to attend COP28 – sources
  • Intuit earnings beat by $0.49, revenue topped estimates

Trending Topics

AI Altcoin Analysis Bitcoin Blockchain Commodities Crypto DeFi Ethereum Forex Futures GameFi ICO Interview Investing Legal Markets Metaverse News NFT Security Stocks Uncategorized Videos Web3

Get Informed

The most important crypto and finance news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • About
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

Copyright © 2023 Block Journal - Created by Sawah Solutions.

No Result
View All Result
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine

Copyright © 2023 Block Journal - Created by Sawah Solutions.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.