Cardano (ADA) Ready to Surpass Ethereum’s Optimism: Community


article image

Vladislav Sopov

Track live crypto price of 10000+ coins!


Cardano (ADA), the largest PoS blockchain, witnesses DeFi revolution: its TVL is rocketing across all protocols

Contents

In March, 2022, Cardano’s decentralized finance (DeFi) protocols are witnessing the largest and most impressive inflow of assets into their vaults, staking instruments and other mechanisms.

Cardano (ADA) surpasses flagship Ethereum L2 network?

Popular community-driven account @cardano_whale has shared interesting statistics on Cardano’s accelerated adoption for decentralized finance (DeFi) protocols.

Cardano registers the largest increase of total value locked (TVL) across all top-tier DeFi protocols. It allows Cardano (ADA) to control 0.2% of the global DeFi ecosystem in just six months after smart contracts launch.

As such, Cardano (ADA) is getting closer to surpassing Optimism, a mainstream L2 solution for Ethereum (ETH) scalability based on optimistic rollups.

Related:  One of 2022’s Most Explosive Altcoins May Be Gearing Up for 47% Rally, According to Analyst Michaël van de Poppe

According to DeFi Llama tracker, Cardano’s (ADA) aggegated TVL sits at $277 million, up 15% in the last 24 hours. It more than doubled in the last two weeks.

Cardano (ADA) is ready to surpass Optimism by TVL
Image by DeFi Llama

Also, in the last two months, its dApps ecosystem’s TVL rocketed almost 100x.

Who is building on Cardano (ADA) right now?

As per DeFi Llama, there are five Cardano-based protocols active right now; also, it is used by a MuesliSwap multi-chain application together with emerging Bitcoin Cash-based platform SmartBCH.

More than 99% of Cardano’s TVL is controlled by Minswap (MIN) anв Sundaeswap (SUNDAE) decentralized crypto exchanges. Muesliswap (MUESLI) and ADAX Pro (ADAX) are also on the list.

As covered by U.Today previously, Cardano’s community is excited by the performance of the Sundaeswap (SUNDAE) DEX: it achieved sub-minute swap finality.




Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: