• Cardano’s weekly development report highlighted the efforts made by developers to improve the blockchain 
• ADA’s price declined in the last 24 hours, and open interest increased 

Cardano [ADA] witnessed a promising uptick in its network value while the rest of the market moved the other way. While most blockchains such as Ethereum [ETH], Solana [SOL], and Polygon [MATIC] suffered losses, ADA’s TVL went up.

This could be taken as an encouraging development for the token. A possible reason behind this surge could be the efforts of the developers to improve the blockchain’s capabilities. Amidst this, ADA’s price fell victim to a correction, causing a decline in the token’s value in the last 24 hours. 

Realistic or not, here’s ADA market cap in BTC‘s terms  

Overachiever ADA!! 

Cardano Feed’s latest tweet revealed that ADA was outperforming the rest of the cryptocurrencies in terms of TVL. As per the tweet, while the rest registered a decline in their network value, Cardano TVL gained upward momentum.

DeFiLlama’s data revealed that after a slight decline on 11 June, the blockchain’s TVL once again started to move northward, which looked promising. 

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Author: Dipayan Mitra

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