Cardano

Cryptocurrency

Minswap

Djed

Liqwid Finance

<div class="finbold">
 <p class="paragraph">The total value locked (TVL) on the Cardano (ADA) DeFi ecosystem has surpassed $160 million with a <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> of close to 10% in the deployed capital, which increases Cardano’s value as a decentralized finance chain and increases liquidity for its <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a>s and tokens.</p>
 <div></div>
 <p class="paragraph">According to data retrieved by Finbold from <em>DefiLlama</em> on October 5, the Cardano network has seen an increase of 9.26% in its 1-week TVL. Reaching $161 million in the total value locked also meant an increase of 1.86% in the last 24 hours and 0.67% monthly, for this metric.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="74" src="https://cdn.thebittimes.com/images/2023/10/06/c520166abe24a96b5a47afbf66d032b9.webp" alt="Total Value Locked on Cardano protocols. " class="wp-image-131476" srcset="https://cdn.thebittimes.com/images/2023/10/06/c520166abe24a96b5a47afbf66d032b9.webp 1024w, https://cdn.thebittimes.com/images/2023/10/06/c520166abe24a96b5a47afbf66d032b9.webp 300w, https://cdn.thebittimes.com/images/2023/10/06/c520166abe24a96b5a47afbf66d032b9.webp 768w, https://cdn.thebittimes.com/images/2023/10/06/c520166abe24a96b5a47afbf66d032b9.webp 1388w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Total Value Locked on Cardano protocols. Source: <em>DefiLlama</em>
  </figcaption>
 </figure>
 <p class="paragraph">Despite a seemingly small increase in the last 30 days, having positive results already gives competitive advantages to the Cardano network, as most chains have seen investors’ and users’ capital outflowing from their <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a>s, resulting in TVL losses.</p>
 <p class="paragraph">With this surge, Cardano slowly continues to prove its value as a growing DeFi environment, although still mostly experimental. Interestingly, the $161 million TVL accounts for 1.75% of ADA’s market cap of $9.17 billion at the time of publication.</p>
 <h2 class="wp-block-heading" id="h-top-defi-protocols-on-cardano">Top DeFi protocols on Cardano</h2>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/06/9a03df02c59ddc84280e68c30623227b.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="cardano-beats-all-crypto-projects-in-september-developer-activity">Cardano beats all crypto projects in September developer activity</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/06/5b768fed85d10ae742a8ea478d39e023.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="chatgpt-picks-3-cryptocurrencies-to-buy-and-hold-forever">ChatGPT picks 3 cryptocurrencies to buy and hold forever</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/06/a07e79a721c3968f908a79bf0a190a33.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="top-5-smart-contract-cryptocurrencies-to-invest-in-september">Top 5 smart contract cryptocurrencies to invest in September</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/06/a45135aac4ade021c0a17acee35bf54a.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="investing-100-week-into-cardano-in-2023-would-be-this-worth-today">Investing $100/week into Cardano in 2023 would be this worth today</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/06/08170befffea9daed21ee137940c6c0e.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="what-s-next-for-shib-price-after-shibarium-tvl-nosedives">What’s next for SHIB price after Shibarium TVL nosedives?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">It is important to say that the total value locked in a given chain is measured by the total amount of tokens that are invested into all DeFi <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a>s built on this blockchain. This metric takes different applications into account, such as staking, liquidity providers, lending, borrowing, and more.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="403" src="https://cdn.thebittimes.com/images/2023/10/06/cc8048585838e097eba42f5df91a3774.webp" alt="Cardano DeFi protocols ranked by TVL" class="wp-image-131477" srcset="https://cdn.thebittimes.com/images/2023/10/06/cc8048585838e097eba42f5df91a3774.webp 1024w, https://cdn.thebittimes.com/images/2023/10/06/cc8048585838e097eba42f5df91a3774.webp 300w, https://cdn.thebittimes.com/images/2023/10/06/cc8048585838e097eba42f5df91a3774.webp 768w, https://cdn.thebittimes.com/images/2023/10/06/cc8048585838e097eba42f5df91a3774.webp 1494w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Cardano DeFi protocols ranked by TVL. Source: <em>DefiLlama</em>
  </figcaption>
 </figure>
 <p class="paragraph">Minswap (MIN), a decentralized exchange is the current leader with $42.41 million TVL. However, Indigo (INDY) can take its position at any moment, as INDY has been growing in value lately, with surges of 12.61% and 17.44% in last week’s and last month’s locked value, respectively. Indigo is a collateralized debt protocol, for decentralized derivatives operations.</p>
 <p class="paragraph">Liqwid Finance (LQ), a lending protocol like AAVE, and Djed Stablecoin, a decentralized stablecoin like DAI on Ethereum, have each $19.23 million and $11.14 million TVL, respectively. With a lesser growth, not higher than 10% in all three timeframes.</p>
 <p class="paragraph">Last, but not least important, another lending <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a>, Optim Finance, has been conquering new ranks and investor’s interest, with the highest TVL pumps among other Cardano <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a>s, for +6.80% in a day, +19.08% in the last seven days, and +21.65% in a month.</p>
 <p class="paragraph">As more investors and users start to deploy capital into Cardano’s network and protocols, ADA could face an imminent increase in demand for its native token, with a general increase in value for the whole ecosystem, which would eventually positively affect its price.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/defi-protocols-on-cardano-surge-what-it-means-for-ada-tbt65283.html">https://thebittimes.com/defi-protocols-on-cardano-surge-what-it-means-for-ada-tbt65283.html</a></p>

DeFi protocols on Cardano surge; What it means for ADA?

Table of Contents

TheBitTimes

Other articles published on Oct 5, 2023

FTX backdoor reportedly discovered by US-based employees: WSJ

ICON Foundation Launches Omni-Chain Messaging Standard on Cosmos (5 Oct)

Daily Analysis: BTC, ETH, XRP, RAY, MIOTA

DOGE NFT Community Unveils Plans to Install Kabosu Statue in Japan

Crypto Expert Reckons $27K is Still a Good Price For BTC

Ethereum Bows to Selling Pressure as Bears Maintain Dominance

Join our free newsletter for daily crypto updates!