Cardano Ecosystem hit another milestone as a personal best achievement for itself with its new all time high Total Value locked in Cardano ecosystem.
Cardano is currently an 8th ranked crypto asset by 24 hours trade volume. Right now this crypto project is facing huge competition because of the new crypto projects but development work by the project team is still on the exact path of the initial aim to make Cardano the best payment system-based platform.
According to the data available at DefiLlama, the new all-time high of total value locked (TVL) in Cardano hitted $188.88 million on March 14. And this was a personal best achievement for the Cardano blockchain.
If we compare the surge in the TVL of Cardano before and after the launch of Cardano-backed Defi protocols SundaeSwap and MinSwap DEXes then we will find that it is surged by around 15,840% (from roughly $1.7 million to $271 million).
This sudden spike took place between Jan. 12 to Mar. 14. Here the contribution in the TVL significantly surged because of the SundaeSwap decentralized exchange, which is currently holding around $114 million TVL. Minswap and MuesliSawo hold $71.82 million & $12.4 million respectively.
Charles Hoskinson, the founder of Cardano and CEO of IOHK, responded to this new achievement of Cardano and said that it is because of the new activities that will take place in the Cardano Blockchain.
In the present time a total of 6 decentralized projects are running in a Cardano mainnet, while 1000+ projects are under development, so we can expect very well that it is just beginning.
In the middle of this year, the crypto industry is ready in advance to take advantage because of the new development activities in the Ethereum and Cardano network.
In the present time, the testnet to shift Ethereum from pow to pos is ready and after 3 months from now, the Ethereum developers team will do the same on the mainnet.
Cardano’s next Hardfork (network upgrade with Vasil hard fork ) will take place in June.
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