Cardano

Ergo

Million

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/cardano-ada-up-16-as-it-eyes-next-level" rel="noopener noreferrer nofollow">Cardano's</a> TVL growth on the DeFi landscape stands out, not just for its foundational philosophy but also its incredible growth metrics in recent times, <a href="https://defillama.com/chain/Cardano" rel="noopener noreferrer nofollow">data shows</a>. The total value locked (TVL) in Cardano recently surged past an impressive milestone of $250 million, cementing its place as one of the most actively growing networks in the DeFi arena.
Comparing Cardano's growth trajectory to another significant player, Ergo, sheds light on the momentum ADA has managed to garner. As of late October 2023, Ergo's TVL is recorded at approximately $7.16 million. While Ergo has its merits and has shown consistent growth over the past year, the pace at which Cardano has scaled is undeniably faster. The Cardano chart, as depicted, showcases a steep rise in its TVL, particularly around the latter half of 2023, highlighting a surge in interest and investment in the platform. <img alt="Cardano chart" data-entity-type="file" data-entity-uuid="d2770f95-09af-4dcc-8945-c432fb4f011f" src="https://u.today/sites/default/files/inline-images/image_183.png">Source: <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">TradingView</a>
Furthermore, some more granular metrics emphasize Cardano's robust ecosystem. The stablecoins market capitalization on <a href="https://u.today/cardano-ada-price-analysis-for-october-25" rel="noopener noreferrer nofollow">Cardano</a> has reached $15.93 million, with a 24-hour volume of $2.82 million and a commendable 39,031 active addresses.
In contrast, Ergo's stablecoins market cap stands at $387,776 with a 24-hour volume of $75,936. While both networks have their unique value propositions, <a href="https://u.today/cardano-creator-unveils-whats-really-happening-with-djed-stablecoin-project" rel="noopener noreferrer nofollow">Cardano's</a> numbers signify broader acceptance and adoption among DeFi enthusiasts and stakeholders.
A variety of factors contribute to Cardano's meteoric rise. The platform's commitment to research-driven approaches, peer reviews and a focus on innovation makes it an attractive choice for those who chase long-term growth and value proposition rather than quick speculative gains.

Cardano (ADA) TVL Growth Remains Unhinged, Hits $250 Million

U_Today

Other articles published on Oct 29, 2023

Bitcoin Continues to Close Above $34,000: When Will it Reach Higher Peaks?

US immigration to scan social media apps before approving Visas

VanEck amends application for spot Bitcoin ETF

Bitcoin (BTC) Price Prediction: When Will Bitcoin Reach $100,000?

Bitcoin News: 19,197 BTC Withdrawn from Binance – Market Impact and 2024 Predictions

Massive crypto losses from LastPass hack with 25+ victims hit

Join our free newsletter for daily crypto updates!