• The TVL rose to a new high amid increased activity on its underlying protocols.
• ADA’s momentum could turn bullish, but this depends on the demand created.

Thanks to the seven-day performance of the protocols and smart contracts operating under Cardano [ADA], the Total Value Locked has reached its highest point in the year. According to DefiLlama, Cardano’s TVL was $166.39 million.

Is your portfolio green? Check the Cardano Profit Calculator

Cardano’s TVL reaching a Year-To-Date (YTD) high signal growing confidence and activity on the platform. By definition, the TVL measures the amount of unique smart contract deposits into a network.

Thus, this milestone reflects the increasing adoption and utilization of Cardano’s decentralized Applications (dApps) including, but not limited to, lending protocols Liqwid and Optim Finance, DEXes Minswap, and SundaeSwap.

All these protocols, and others combined had notable increases that helped Cardano hit the landmark.

Fewer ADA movements; holders coping

However, the scenario with ADA circulation was a different one. According to Santiment, the seven-day circulation was down to 1.07 billion. Oftentimes, circulation shows the number of unique tokens transacted within a certain trading range.

Therefore, the decline Go to Source to See Full Article
Author: Victor Olanrewaju

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details