Cardano’s TVL reached over $225M, Hits a New Milestone

According to DeFiLIama, Cardano’s total value locked surpassed $225 million as SundaeSwap’s dominance fell dramatically with the launch of the Minswap.  

The total value locked of Cardano smart contracts has risen than $65 million in the previous seven days. A significant increase in the value of locked funds is most likely due to the redistribution of funds that were previously unavailable on the network.

Cardano's TVL reached over $225M, Hits a New Milestone 3

SundaeSwap led the network with almost 97% of the entire value locked. SundaeSwap now has $114 million in locked ADA. The TVL of Minswap remains at $110.01 million, while the projects in third and fourth position each have less than $2 million in user funds.

SundaeSwap, a “native, scalable decentralized exchange and automated liquidity provision protocol” backed by cFund, Alameda Research (a quantitative cryptocurrency trading firm and liquidity provider founded by FTX CEO Sam Bankman-Fried), and Double Peak Group, is at the helm of Cardano’s DeFi ecosystem.” Behind it is Minswap, a decentralized exchange that saw its total value locked increase 400% in a week after it launched and now has $94 million locked on it.”

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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