News - Cardano grows while ADA price stagnates
As the ADA price continues to stall, on-chain activity on Cardano is increasing. There is also catching up in the DeFi market.
According to Santiment Cardano has recorded a 1,700% increase in weekly on-chain transaction volume since the end of January.
"Cardano continues to see increasing onchain transaction volumes, although the market value is down from its peak in April," aldus Santiment.
Developer activity also increased in August. After Polkadot, Cardano recorded the highest participation of developers.
Cardano also posted gains in the DeFi sector. Total Value Locked (TVL). has increased 200% since January to currently US$155 million.
Compared to the previous week, the ADA price dropped by 3% to currently 25 cents.