{"id":530029,"date":"2023-05-05T09:00:26","date_gmt":"2023-05-05T09:00:26","guid":{"rendered":"https:\/\/wncen.com\/?p=530029"},"modified":"2023-05-05T08:18:05","modified_gmt":"2023-05-05T08:18:05","slug":"cardano-tvl-climbs-by-10","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-tvl-climbs-by-10\/","title":{"rendered":"Cardano TVL Climbs By 10% In A Day – Is ADA Set To Soar Once Again?"},"content":{"rendered":"
Cardano (ADA) was at the peak of its performance in 2022, boasting an all-time high Total Value Locked of over $400. However, since then, the cryptocurrency’s value has fluctuated.\u00a0<\/span><\/p>\n But <\/span>recent data<\/span><\/a> from Artemis shows that Cardano’s TVL has been consistently increasing over the last six months.\u00a0<\/span><\/p>\n The seven-day moving average of $154 million is a level not seen since May 2022. With this growth rate, many are wondering if Cardano will have what it takes to reach its previous all-time high TVL.<\/span><\/p>\n Over the last six months, $ADA<\/a> TVL has consistently increased.<\/p>\n Currently, the seven-day moving average sits at $154m, a number that has not been seen since May 2022. pic.twitter.com\/wkbYoAddQb<\/a><\/p>\n \u2014 Artemis \ud83c\udff9 (@Artemis__xyz) May 3, 2023<\/a><\/p><\/blockquote>\n Cardano’s TVL has been on a consistent upward trajectory, with a recent surge of over 9% in just 24 hours, according to <\/span>DeFiLlama’s<\/span><\/a>.\u00a0<\/span><\/p>\n <\/p>\n Meanwhile, a <\/span>tweet<\/span><\/a> from Input Output Global highlighted the blockchain’s impressive performance in April, with the Hydra team gearing up for the upcoming 0.10.0 mainnet release.\u00a0<\/span><\/p>\n As Cardano continues to prioritize scalability, this new release could have a significant impact on the entire ecosystem.<\/span><\/p>\n 1\/ The weekly development update is released every Friday on #EssentialCardano<\/a>. This thread recaps the main highlights from the previous month.<\/p>\n Discover how many projects launched on #Cardano<\/a> in April, the growth of native tokens, token policies, transactions, & scripts. pic.twitter.com\/dW6xXXUw3r<\/a><\/p>\n \u2014 Input Output (@InputOutputHK) May 2, 2023<\/a><\/p><\/blockquote>\n Additionally, the Plutus team has been developing new built-ins to support BLS12-381 curves, which are expected to be available in Plutus v3. <\/span><\/p>\n These developments suggest that Cardano’s growth on the development front is likely to continue, which could lead to further TVL growth in the future.<\/span><\/p>\n Cardano’s current price on <\/span>Coingecko<\/span><\/a> is recorded as $0.391593. Although it experienced a 1.1% slump in the past 24 hours and a 4.4% decrease in the past seven days, recent data indicates increased network usage.\u00a0<\/span><\/p>\n The number of daily active addresses spiked recently, and the staking market cap of Cardano was recorded as $9,037,199,931. The number of ADA stakers remained relatively stable despite the slump in price.<\/span><\/p>\n However, the number of token holders has declined, reflecting a dent in investor confidence. On the other hand, the popularity of ADA among whales is high, which is evident from the consistent number of whale transaction counts.\u00a0<\/span><\/p>\n Despite the recent decline in price, Cardano’s growing network usage and popularity among whales could be indicative of a bullish outlook for the cryptocurrency in the future.<\/span><\/p>\n\n
Cardano Growing TVL, Development Efforts Hint At Bright Future<\/strong><\/h2>\n
Source: DeFiLlama<\/a><\/pre>\n
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ADA\u2019s Usage And Popularity Among Whales<\/strong><\/h2>\n
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ADA total market cap at $13 billion. Chart: TradingView.com<\/a><\/pre>\n