Cardano Outperforms Solana, Aave, And Terra With A Market Capitalization Of $40 Billion

Cardano (ADA) ranks sixth among the world’s largest blockchains, with a total market valuation of more than $40 billion. Following the rise, a project with a market cap of $300 million in TVL saw both market and fundamental growth.

The significant driver for such a rapid increase in capitalization is the network’s expansion, both in terms of market and fundamentals. The project’s capitalization is linked to the price of the underlying ADA token, which is now trading at $1.2.

Without the expanding number of different decentralized solutions powered by Cardano, the price increase would not have been conceivable. Users will be able to witness two solutions this year, decentralized peer-to-peer lending and borrowing, and an interoperable Layer 2.

The major cause for the 350% growth in Cardano TVL in March is due to at least two factors: the emergence of new DeFi platforms like Minswap and the overall resurgence of the DeFi industry, which had lost some popularity in December-January.

According to DeFiLIama, by the end of March, the total worth of money secured across all industry projects climbed from roughly $200 billion to $223 billion. In the previous 28 days, the total value of funds locked on blockchain-powered platforms and applications climbed from $134 million to $326 million, according to Cardano.

Investors are more actively redistributing their portfolios, exposing themselves to riskier choices like high-APY stablecoins, as seen by inflows into the DeFi business.

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Patrick

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