{"id":534160,"date":"2023-05-20T12:40:08","date_gmt":"2023-05-20T12:40:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=534160"},"modified":"2023-05-20T12:40:27","modified_gmt":"2023-05-20T12:40:27","slug":"cardano-surpasses-500-million-ada-in-tvl-no-significant-impact-on-price","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano-surpasses-500-million-ada-in-tvl-no-significant-impact-on-price\/","title":{"rendered":"Cardano Surpasses 500 Million ADA In TVL – How About Its Impact On Price?"},"content":{"rendered":"

The total value locked (TVL) on the Cardano blockchain has hit a significant milestone after crossing 500 million ADA. This would come just a month and a few days after TapTools predicted an exponential increase<\/a> in the network\u2019s TVL.<\/span><\/p>\n

In this prediction, TapTools, a Cardano portfolio tracker, also reported different factors that could be pivotal to Cardano\u2019s explosive growth in the coming months.<\/span><\/p>\n

Related Reading: Bitcoin \u2018Shrimp\u2019 Catch Soars To All-Time High Of 1.31 Million Coins \u2013 Details<\/a><\/div>\n

Cardano DeFi Ecosystem Hits 500 Million ADA In TVL<\/span><\/h2>\n

Data from DeFi TVL aggregator DefiLlama<\/a> reveals that the total value locked on the Cardano network now stands at 505.114 million ADA. This is equivalent to $186.18 million when converted to U.S. dollars.<\/span><\/p>\n

\"Cardano\"<\/p>\n

Source: DefiLlama<\/p>\n

This new milestone represents a staggering 91.9% increase in total value locked since the turn of the year. Meanwhile, in the last month, Cardano\u2019s TVL has jumped by nearly 8%, indicating a steady adoption of its DeFi ecosystem.<\/span><\/p>\n

On-chain data shows that Minswap is, by a distance, the leading protocol on the network, with a TVL of $55.56 million. In fact, the decentralized exchange boasts a market share dominance of 29.84%.<\/span><\/p>\n

Minswap protocol is followed by Indigo, a collateralized debt protocol, with a total value of $28.5 million locked on it. WingRiders, Liqwid, and Djed Stablecoin are three other <\/span>notable protocols on the Cardano DeFi ecosystem, with TVLs of $17.51 million, $15.42 million, and $13.71 million, respectively.<\/span><\/p>\n

It is important to note that total value locked is a metric that estimates the amount of cryptocurrency locked in DeFi protocols on a particular blockchain. It is calculated by summing up the value of all the crypto assets locked in various DeFi protocols on a blockchain. TVL can be represented in the native token of a blockchain (as in ADA for Cardano) or in USD.<\/span><\/p>\n

ADA Price Shows No Significant Action<\/span><\/h2>\n

A skyrocketing total value locked is often an indicator of increased activity in a DeFi ecosystem. However, Cardano\u2019s impressive TVL growth hasn’t particularly impacted the price of ADA, the blockchain\u2019s native token.<\/span><\/p>\n

As of this writing, one ADA token trades at $0.3655, losing 1% of its value in the last 24 hours. The price of ADA has been moving sideways recently, dipping by only 0.5% in the last seven days.<\/span><\/p>\n

\"Cardano\"<\/p>\n

ADAUSD trading at $$0.3652 | Source: ADAUSD chart from TradingView<\/a><\/pre>\n
That said, a broader look at the market reveals that ADA has been on a steady decline, losing more than 13% of its value in the past month. The cryptocurrency boasts a daily trading volume of approximately $129.3 million.\u00a0<\/span><\/p>\n
According to data from CoinGecko<\/a>, ADA ranks as the seventh-largest cryptocurrency, with a total market cap of $12.79 billion.<\/span><\/p>\n
Related Reading: Lido\u2019s ETH Deposits Reach Record High Amid Stagnant stETH Withdrawals<\/a><\/div>\n
\n
-Featured image from Solodev, chart from TradingView<\/em><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
The total value locked (TVL) on the Cardano blockchain has hit a significant milestone after crossing 500 million ADA. This would come just a month and a few days after TapTools predicted an exponential increase in the network\u2019s TVL. In this prediction, TapTools, a Cardano portfolio tracker, also reported different factors that could be pivotal to Cardano\u2019s explosive growth in the coming months. Related Reading: Bitcoin \u2018Shrimp\u2019 Catch Soars To All-Time High Of 1.31 Million Coins \u2013 Details Cardano DeFi Ecosystem Hits 500 Million ADA In TVL Data from DeFi TVL aggregator DefiLlama reveals that the total value locked on the Cardano network now stands at 505.114 million ADA. This is equivalent to $186.18 million when converted to U.S. dollars. Source: DefiLlama This new milestone represents a staggering 91.9% increase in total value locked since the turn of the year. Meanwhile, in the last month, Cardano\u2019s TVL has jumped by nearly 8%, indicating a steady adoption of its DeFi ecosystem. On-chain data shows that Minswap is, by a distance, the leading protocol on the network, with a TVL of $55.56 million. In fact, the decentralized exchange boasts a market share dominance of 29.84%. Minswap protocol is followed by Indigo, a collateralized debt protocol, with a total value of $28.5 million locked on it. WingRiders, Liqwid, and Djed Stablecoin are three other notable protocols on the Cardano DeFi ecosystem, with TVLs of $17.51 million, $15.42 million, and $13.71 million, respectively. It is important to note that total value locked is a metric that estimates the amount of cryptocurrency locked in DeFi protocols on a particular blockchain. It is calculated by summing up the value of all the crypto assets locked in various DeFi protocols on a blockchain. TVL can be represented in the native token of a blockchain (as in ADA for Cardano) or in USD. ADA Price Shows No Significant Action A skyrocketing total value locked is often an indicator of increased activity in a DeFi ecosystem. However, Cardano\u2019s impressive TVL growth hasn’t particularly impacted the price of ADA, the blockchain\u2019s native token. As of this writing, one ADA token trades at $0.3655, losing 1% of its value in the last 24 hours. The price of ADA has been moving sideways recently, dipping by only 0.5% in the last seven days. ADAUSD trading at $$0.3652 | Source: ADAUSD chart from TradingView That said, a broader look at the market reveals that ADA has been on a steady decline, losing more than 13% of its value in the past month. The cryptocurrency boasts a daily trading volume of approximately $129.3 million.\u00a0 According to data from CoinGecko, ADA ranks as the seventh-largest cryptocurrency, with a total market cap of $12.79 billion. Related Reading: Lido\u2019s ETH Deposits Reach Record High Amid Stagnant stETH Withdrawals -Featured image from Solodev, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":534170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83371,16896,3],"tags":[12333,12332],"class_list":["post-534160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","category-cardano","category-news","tag-ada","tag-cardano"],"acf":[],"yoast_head":"\nCardano Surpasses 500 Million ADA In TVL - How About Its Impact On Price?<\/title>\n<meta name=\"description\" content=\"The total value locked (TVL) on the Cardano blockchain has hit a significant milestone after crossing 500 million ADA.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/cardano-surpasses-500-million-ada-in-tvl-no-significant-impact-on-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano Surpasses 500 Million ADA In TVL - 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Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/uniquehot.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Surpasses 500 Million ADA In TVL – How About Its Impact On Price?","url":"http:\/\/uniquehot.com\/news\/cardano-surpasses-500-million-ada-in-tvl-no-significant-impact-on-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardano-surpasses-500-million-ada-in-tvl-no-significant-impact-on-price\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/05\/Cardano-1536x997-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/05\/Cardano-1536x997-1.jpg?fit=1536%2C997"},"articleSection":"ADA","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","cardano"],"dateCreated":"2023-05-20T12:40:08Z","datePublished":"2023-05-20T12:40:08Z","dateModified":"2023-05-20T12:40:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Surpasses 500 Million ADA In TVL – How About Its Impact On Price?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano-surpasses-500-million-ada-in-tvl-no-significant-impact-on-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano-surpasses-500-million-ada-in-tvl-no-significant-impact-on-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Cardano-1536x997-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Cardano-1536x997-1.jpg?fit=1536%2C997\"},\"articleSection\":\"ADA\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"cardano\"],\"dateCreated\":\"2023-05-20T12:40:08Z\",\"datePublished\":\"2023-05-20T12:40:08Z\",\"dateModified\":\"2023-05-20T12:40:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/05\/Cardano-1536x997-1.jpg?fit=1536%2C997","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/534160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=534160"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/534160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/534170"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=534160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=534160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=534160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}