Cardano's decentralized finance (DeFi) landscape is expanding with the integration of VyFinance DEX protocol into the MuesliSwap DEX Aggregator.
The news, announced via MuesliSwap's Twitter account on Saturday, signals a new development in Cardano's continuous effort to increase its presence in the DeFi sector.
The integration promises limitless trading on the Cardano network, potentially offering a more diverse array of financial products.
Cardano outpaces Bitcoin in total value locked (TVL)
Interestingly, in a recent development, Cardano has also managed to surpass Bitcoin in terms of total value locked (TVL), according to data from DeFiLlama, a crypto market data aggregator.
The data shows that Cardano, with a TVL of $183.19 million, now stands in 15th place, outpacing Bitcoin which has a TVL of $178.99 million.
The growth in TVL reflects a marked increase in the number of active users and protocols on the Cardano network.
According to DeFiLlama, Cardano's active users have grown by 2.69% in the last day, 9.37% in the last week, and a substantial 20% over the past month. These statistics underscore the growing interest and trust in Cardano's DeFi ecosystem.
Tomiwabold Olajide
Arman Shirinyan
Godfrey Benjamin