Cardano (ADA) Ready to Surpass Ethereum's Optimism: Community
In March, 2022, Cardano's decentralized finance (DeFi) protocols are witnessing the largest and most impressive inflow of assets into their vaults, staking instruments and other mechanisms.
Cardano (ADA) surpasses flagship Ethereum L2 network?
Popular community-driven account @cardano_whale has shared interesting statistics on Cardano's accelerated adoption for decentralized finance (DeFi) protocols.
Cardano's Total Value Locked including staking is now up to 22nd, the largest 1 month increase across all protocols with TVL > $10m. Cardano’s dominance in DeFi is now on par with Ethereum’s Optimism L2 (0.2%), keeps rising fast
— ADA whale (@cardano_whale) March 20, 2022Key Bitcoin Driver Linked to Current Price Correction Revealed by Max Keiser3 Bitcoin Price Scenarios That Could Shape 2025 Unveiled by Peter BrandtJPMorgan CEO Doesn't Feel Great About BitcoinEnormous XRP Breakout to Launch Skyrocketing Rally, Shiba Inu (SHIB): Pattern You Don't Avoid, Bitcoin (BTC) Still Sleeping
Cardano registers the largest increase of total value locked (TVL) across all top-tier DeFi protocols. It allows Cardano (ADA) to control 0.2% of the global DeFi ecosystem in just six months after smart contracts launch.
As such, Cardano (ADA) is getting closer to surpassing Optimism, a mainstream L2 solution for Ethereum (ETH) scalability based on optimistic rollups.
Arman ShirinyanAccording to DeFi Llama tracker, Cardano's (ADA) aggegated TVL sits at $277 million, up 15% in the last 24 hours. It more than doubled in the last two weeks.
Also, in the last two months, its dApps ecosystem's TVL rocketed almost 100x.
Who is building on Cardano (ADA) right now?
As per DeFi Llama, there are five Cardano-based protocols active right now; also, it is used by a MuesliSwap multi-chain application together with emerging Bitcoin Cash-based platform SmartBCH.
More than 99% of Cardano's TVL is controlled by Minswap (MIN) anв Sundaeswap (SUNDAE) decentralized crypto exchanges. Muesliswap (MUESLI) and ADAX Pro (ADAX) are also on the list.
Vladislav SopovAs covered by U.Today previously, Cardano's community is excited by the performance of the Sundaeswap (SUNDAE) DEX: it achieved sub-minute swap finality.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Related articles
Yuri Molchan
Gamza Khanzadaev
Dan Burgin