Cardano: ecosystem reaches new milestone

The ADA rate remains stagnant. Yet Cardano's DeFi ecosystem continues to grow steadily. Let's take a closer look at the info.

Indeed, Cardano's DeFi ecosystem has hit a milestone by having 600 million ADA tokens "locked" on the network. Since the beginning of the year, this value, better known as Total Value Locked, has tripled. The 600 million ADA have a value of about $180 million. At the time of writing, the Cardano price stands at US$0.29 (€0.26).

Minswap tops the list of largest DeFi ADA exchanges and currently holds about US$48 million in ADA tokens, according to DeFiLlama. Indigo follows in second place with a good US$39 million, while Liqwid is behind with US$19.7 million.

At the same time, in addition to the Total Value Locked (TVL) in Cardano's DeFi ecosystem, whales' interest in ADA is also increasing. Since late May this year, large ADA investors have collected tokens worth US$116 million - a spike since last September.