Cardano (ADA) TLV Hits A Whopping $300 Million

Published by
Cardano (ADA) TLV Hits A Whopping $300 Million

Cardano’s decentralized finance (DeFi) space is reaching new milestones at a very rapid pace. Per data from Defillama, the total value locked in Cardano’s DeFi ecosystem has crossed $400 million. 

Advertisement

Cardano’s DeFi TVL is being spurred on by Minswap

A look at the DeFi data aggregator shows that the total value locked on all DeFi platforms in the Cardano ecosystem now stands at over $402 million, after increasing by 6% on the day. 

Minswap, a community-focused automatic market maker decentralized exchange which launched this month, has been the major driving force of the latest surge. Minswap’s TVL has increased 117% in the last week and now sits at over $193 million. 

The DEX now has a 48.24% dominance among others, surpassing SundaeSwap, the previous leader, in just 10 days after its launch. Minswap’s success has marked an overall more than double increase in one month for the TVL of the Cardano DeFi ecosystem. Cardano’s TVL was around $133 million at the start of March.

Meanwhile, Minswap is not leaning on its laurels. The project’s developers are advancing towards being even more community-centric. They recently made DEX’s GitHub repository open-source. And their roadmap has Q2 of this year earmarked as the project’s timeline to shift to being run through a decentralized autonomous organization (DAO) and community governance.

https://twitter.com/MinswapDEX/status/1505206025275723782?t=hmkSlF8nSlR-ZlkmB0Hvpw&s=19 

The TVL growth is not the only reason Cardano community members are currently highly optimistic. Cardano supporters are anticipating several upgrades through the year that will not only scale and optimize the blockchain but also empower a “massive wave” of new project launches.

Advertisement

The price of ADA has surged slightly following TVL growth

While Cardano’s DeFi space is now eyeing a half-a-billion value, the price of Cardano’s native token ADA had been proving slow to match its rapid growth. However, ADA seems to have caught the momentum, as it is putting up an impressive surge.

The price of ADA has gained 20.7% in the last week, as it seems to be on the cusp of reclaiming $1 levels. ADA is up 3.5% on the day, trading at $0.97. The token has so far reached an intra-day high of $0.99, per data from CryptoRank.

Advertisement

Share
Olivia Brooke

Olivia’s interests spans across the Cryptocurrency and NFT and DeFi industry. She remains as fascinated by cryptocurrencies today, as she was back in 2017, when she first started reading up about them.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Cathie Wood Dumps Robinhood for BMNR Stock As ARK Invest Adjusts Holdings

Cathie Wood’s ARK Invest has made a notable shift in its portfolio. The company trimmed…

September 9, 2025
  • 24/7 Cryptocurrency News

Ripple News: BBVA Bank Taps Ripple to Custody Bitcoin, Ether for Retail Customers

In a major Ripple news on Tuesday, Spain's leading bank BBVA expanded its partnership with…

September 9, 2025
  • 24/7 Cryptocurrency News

Pi Coin Grabs Headlines at TOKEN2049 as Pi Network Founder Joins Speaker Lineup

Pi Network has confirmed that its founder, Dr. Chengdiao Fan, will be speaking at TOKEN2049.…

September 9, 2025
  • 24/7 Cryptocurrency News

AI Coins Gain as US SEC Crypto Task Force Met Multiple Firms Today

The U.S. Securities and Exchange Commission (SEC) Crypto Task Force met with multiple companies working…

September 9, 2025
  • 24/7 Cryptocurrency News

Dogecoin Retail FOMO Is Kicking Again As CleanCore Kickstarts $175M DOGE Treasury Plan

Dogecoin has been on investors' radar recently, amid key developments like the DOGE ETF launch…

September 9, 2025
  • 24/7 Cryptocurrency News

“We Are Bullish Hyperliquid,” VanEck CEO Says As HYPE Price Hits New ATH

VanEck CEO Jan van Eck has publicly expressed confidence in Hyperliquid’s ecosystem. His remarks come…

September 9, 2025