Cardano

DeFi

Cardano’s ecosystem has been <a href="https://x.com/redvelvetzip/status/1757804568002351405?s=46" target="_blank" rel="noopener nofollow">experiencing</a> impressive growth recently, marked by a surge in its <a href="https://www.newsbtc.com/news/cardano-tvl-climbs-by-10/" target="_blank" rel="noopener nofollow">Total Value Locked (TVL)</a> and the rapid increase in the price of its native token, <a href="https://www.newsbtc.com/news/cardano-tvl-a-crucial-factor-for-ada-price-revival/" target="_blank" rel="noopener nofollow">ADA</a>. The ecosystem is buzzing with new developments as it dominates the decentralized finance (DeFi) and stablecoin markets.&nbsp;&nbsp; 
<h2 id="cardano-tvl-reaches-historic-highs">Cardano TVL Reaches Historic Highs</h2> 
On February 15, Messari, an industry-leading market intelligence platform, <a href="https://x.com/messaricrypto/status/1757789574007296510?s=46" rel="nofollow" target="_blank">released</a> a report detailing the status of Cardano during the fourth quarter of 2023. The data intelligence platform disclosed that <a href="https://www.newsbtc.com/news/cardano-tvl-set-to-skyrocket/" target="_blank" rel="noopener nofollow">Cardano experienced exponential growth</a> in 2023, with a staggering 166% Quarter-over-Quarter (QoQ) surge in Cardano’s TVL and an impressive 693% Year-over-Year increase (YoY) increase.&nbsp; 
According to Messari, <a href="https://www.newsbtc.com/news/cardano/cardano-ada-16500-blowout/" target="_blank" rel="noopener nofollow">Cardano’s growth</a> can be attributed to its ecosystem’s rapid development and advancement of prominent protocols. Indigo, the first synthetic derivatives exchange on Cardano, recently emerged as the largest protocol by TVL, surpassing even Minswap, a multi-pool decentralized exchange on Cardano.&nbsp; 
Impressively, Indigo’s TVL surged to a record-breaking $449 million in December 2023. This substantial increase played a pivotal role in elevating Cardano’s TVL, propelling it from an initial ranking of 34th at the beginning of the year to 11th position in Q4.&nbsp; 
Additionally, Messari reported that Cardano’s recent expansion can be attributed to the blockchain’s introduction of two new <a href="https://www.newsbtc.com/analysis/ada/cardano-q2-surge-stablecoin-soars-tvl-skyrockets-and-dapp-transactions-hit-record-highs/" target="_blank" rel="noopener nofollow">stablecoins</a>, iUSD and <a href="https://bitcoinist.com/cardano-stablecoin-djed-launch-next-week/" target="_blank" rel="noopener ">DJED</a>, last year. Typically, stablecoins play a major role in shaping the <a href="https://www.newsbtc.com/news/cardano/cardano-defi-tvl-rises-more-than-2x-in-a-month/" target="_blank" rel="noopener nofollow">DeFi landscape</a> of an ecosystem.&nbsp; 
As a result, Cardano’s TVL in stable assets experienced a notable increase of over 36%, reaching a price of $21.5 million. The cryptocurrency’s stablecoin market capitalization also <a href="https://www.newsbtc.com/news/cardano/cardano-climbs-tvl-ranks-198-yearly-surge-puts-network-among-top-15/" target="_blank" rel="noopener nofollow">surged in rankings</a>, moving from the 54th position to the 32nd.&nbsp; 
<h2 id="ada-s-standout-performance-in-2023-q4-report">ADA’s Standout Performance In 2023 Q4 Report</h2> 
While Cardano witnessed unprecedented growth in <a href="https://www.newsbtc.com/news/cardano/cardano-q4-2023-report-tvl-growth-and-ada-price-surge-outshine-competitors/" target="_blank" rel="noopener nofollow">Q4 2023</a>, the cryptocurrency’s native token ADA also <a href="https://www.newsbtc.com/news/cardano/rapid-rise-in-cardanos-tvl-points-toward-bullish-sentiment-around-ada/" target="_blank" rel="noopener nofollow">recorded impressive gains</a>. Messari disclosed that ADA’s USD revenue surged by 66.7% QoQ while the token’s total value increased by 127.2% QoQ.&nbsp; 
The market intelligence platform noted that <a href="https://www.newsbtc.com/news/cardano-in-2024-dollar-dream-or-downward-spiral-for-ada/" target="_blank" rel="noopener nofollow">Cardano’s price</a> increase outpaced the overall cryptocurrency market’s growth by a whopping 53.8%. Additionally, the ADA’s YoY price increased by 145.2% while Cardano’s treasury balance witnessed notable gains, surging by 2.6% QoQ to 1.43 billion ADA.&nbsp; 
At the time of writing <a href="https://www.newsbtc.com/news/cardano/cardano-surpasses-500-million-ada-in-tvl-no-significant-impact-on-price/" target="_blank" rel="noopener nofollow">ADA’s price</a> is trading at $0.58, according to CoinMarketCap. The cryptocurrency has been in the green zone since the beginning of the year, reflecting a 10.15% increase in the last seven days and a 7.92% surge over the past month.&nbsp; 
<img loading="lazy" decoding="async" class="wp-image-281646 size-large" src="https://bitcoinist.com/wp-content/uploads/2024/02/Cardano-ADA-ADAUSDT.png?resize=980%2C468" alt="Cardano ADA ADAUSDT" width="980" height="468" srcset="https://bitcoinist.com/wp-content/uploads/2024/02/Cardano-ADA-ADAUSDT.png?w=2372 2372w, https://bitcoinist.com/wp-content/uploads/2024/02/Cardano-ADA-ADAUSDT.png?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/02/Cardano-ADA-ADAUSDT.png?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/02/Cardano-ADA-ADAUSDT.png?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/02/Cardano-ADA-ADAUSDT.png?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2024/02/Cardano-ADA-ADAUSDT.png?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2024/02/Cardano-ADA-ADAUSDT.png?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/02/Cardano-ADA-ADAUSDT.png?w=1140 1140w" sizes="(max-width: 980px) 100vw, 980px" data-recalc-dims="1"> 
Chart from Tradingview

Cardano’s Ecosystem Booms: 166% Surge in TVL Marks New Phase Of Expansion

Obsah

Bitcoinist

Ďalšie články zverejnené 15. 2. 2024

Bitcoin Price Prediction: BTC Surges More Than 4% As The BlackRock Bitcoin ETF Accumulates $500M ...

24 Crypto Update, 14 Feb: BTC Climbs Above $52000 Threshold

Tron Coin Soars to Over Three-Year Highs

DEBT Box Opposes SEC’s Attempt to Dismiss Case, Accuses the Agency of Seeking Preferential Treatment

How Bitcoin Price 35% Monthly Surge Will Trickle Capital Down To Large And Low-Cap Altcoins

Ethereum Price Prediction: ETH Jumps 16% In 7 Days As Top Analyst Says Rotation To Ethereum Is ”C...

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!