Cardano’s Total Value Lock (TVL) Still Remains More Than $200 Million

According to DefiLlama, the Cardano network has seen a rapid increase in total value locked (TVL) since the launch of Minswap DEX and a rising number of decentralized products on the network.

When staked governance tokens are factored into the TVL valuation, the DefiLlama dashboard shows that Cardano’s TVL is significantly higher. Cardano’s TVL has increased to around $242.43 million as a result of the addition.

At the time of writing, the total value locked in the Cardano network has risen rapidly from around $199.74 million to $253.42 million. The entire worth of funds locked in the network’s smart contract increased from March 1st to March 9th, when it reached the current ATH of $253 million.

The SundaeSwap decentralized platform presently holds the majority of the network’s money, with $115 million locked in. MuesliSwap, a decentralized finance network, is in second place with $12.54 million locked up. MuesliSwap has grown by 247% in the last month.

Cardano’s blockchain TVL was roughly $168.81 million without the addition of staked governance assets.

Decentralized exchange of multiple pools Minswap made its Cardano mainnet debut earlier today. Its users can now deposit liquidity in exchange for rewards and exchange tokens in a decentralized manner. Yield farming will become available on the exchange starting from March 14th. Minswap finished its audit in conjunction with Tweag, a concept-to-launch software innovation lab.

Minswap presently has $49.87 million in total value locked, according to statistics provided by cryptocurrency analytics platform DefiLlama. SundaeSwap, which launched on the mainnet in late January, currently has $115.73 million in total value locked, making it the largest Cardano DEX for the time being.

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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