Cardano’s Total Value Locked Has Now Reached A New All-Time High!

Cardano is now breaking its previous record

Cardano has seen a significant increase in its total value locked (TVL), which has now hit a new high.

On March 2, the TVL for the biggest Proof-of-Stake asset reached $133.39 million, breaking the previous record of $130 million established on February 17.

According to statistics from Defi Llama, which tracks on-chain data, its TVL has been climbing in the last week across decentralized markets.

The SundaeSwap decentralized exchange holds the majority of the network’s funds, accounting for $118.31 million or 89.04% of total TVL. SundaeSwap is followed by Minswap, which has $12.45 million locked, MuesliSwap (MILK), which has $2.09 million, and ADAX Pro (ADAX), which has $15,710.

Following its previous TVL all-time high in mid-February, this record-breaking performance is the latest in a string of positive events for the platform. Cardano recently reported an increase in the number of wallets over the previous month, with close to 5,000 new wallets uploaded per day.

Since its update to support smart contract functionality in September 2021, the network has grown at an extraordinary speed, prompting crypto experts to estimate that the ADA token’s price would rise to $8.18 by the end of 2025. At the time of publication, the token cost roughly $0.95.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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