{"id":5328,"date":"2023-06-03T18:35:16","date_gmt":"2023-06-03T22:35:16","guid":{"rendered":"http:\/\/leadingcryptonews.com\/tvl-reaches-peak-in-2023\/"},"modified":"2023-06-03T18:35:16","modified_gmt":"2023-06-03T22:35:16","slug":"tvl-reaches-peak-in-2023","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/tvl-reaches-peak-in-2023\/","title":{"rendered":"TVL Reaches Peak in 2023"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><strong>Increasing decentralized finance (DeFi) activity on Cardano has pushed the total value of assets locked on the network to the highest point this year.<\/strong><\/p>\n<p>According to DeFillama data, Cardano\u2019s Total Value Locked (TVL) sits at $180 million \u2013\u00a0the highest since May 2022, when it was $201 million.<\/p>\n<h2>ADA Token TVL Surges<\/h2>\n<p>In terms of the ADA token, Cardano\u2019s DeFi ecosystem also reached an all-time high of 463 million ADA on May 31. On May 20, BeInCrypto reported that the TVL had crossed the 400 million tokens milestone.<\/p>\n<figure class=\"wp-block-image size-full\"><noscript><img decoding=\"async\" src=\"https:\/\/s32659.pcdn.co\/wp-content\/uploads\/2023\/06\/image-80.png\" alt=\"Cardano DeFi TVL\" class=\"lazy wp-image-331477 lazyload\"\/><\/noscript><figcaption class=\"wp-element-caption\">Cardano DeFi TVL (Source; DeFillama)<\/figcaption><\/figure>\n<p>DeFi\u00a0activities on Cardano saw\u00a0consistent growth from\u00a0the start of the year when the TVL was just around $50 million. Since then, the network has seen increased interest, suggesting that its DeFi\u00a0ecosystem was thriving.<\/p>\n<h2>Cardano DEX Volume Increasing<\/h2>\n<p>The increasing TVL has also coincided with a rising DEX volume, according to DeFillama data. Cardano recorded its highest weekly transactions volume during the last three weeks of May when it rose to $98.26 million from $41 million.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/s32659.pcdn.co\/wp-content\/uploads\/2023\/06\/image-79.png\" alt=\"Cardano DEX Volume\" class=\"lazy wp-image-331476 lazyload\"\/><noscript><img decoding=\"async\" src=\"https:\/\/s32659.pcdn.co\/wp-content\/uploads\/2023\/06\/image-79.png\" alt=\"Cardano DEX Volume\" class=\"lazy wp-image-331476 lazyload\"\/><\/noscript><figcaption class=\"wp-element-caption\">Cardano DEX Volume (Source: DeFillama)<\/figcaption><\/figure>\n<p>This trend continued into June, with the current 7-day transaction volume at $127.1 million. DeFillama data showed that the first two days of this month have already seen $35.28 million.<\/p>\n<h2 id=\"h-top-protocols-responsible-for-the-growth\">Top Protocols Responsible for The Growth<\/h2>\n<p>MinSwap is the largest Cardano DeFi protocol with a TVL of $65.87 million. The DEX\u2019s weekly volumes\u00a0have ascended since last year and reached an ATH of over $72 million last week, thanks to the community interest in meme coin SNEK. <\/p>\n<p>Besides its TVL, MinSwap has\u00a017.53k UAWs\u00a0(unique active wallets) which has grown by 33.5% in the last seven days.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/s32659.pcdn.co\/wp-content\/uploads\/2023\/06\/image-81.png\" alt=\"Cardano Top 10 Protocols\" class=\"lazy wp-image-331478 lazyload\"\/><noscript><img decoding=\"async\" src=\"https:\/\/s32659.pcdn.co\/wp-content\/uploads\/2023\/06\/image-81.png\" alt=\"Cardano Top 10 Protocols\" class=\"lazy wp-image-331478 lazyload\"\/><\/noscript><figcaption class=\"wp-element-caption\">Cardano Top 10 Protocols (Source: DeFillama)<\/figcaption><\/figure>\n<p>The collateralized debt protocol, Indigo,\u00a0saw its TVL grow\u00a0by 15.95% in the last seven days. It has seen a 6x increase in TVL since launch, and volume puts it on the list of top 11 CDP protocols across all chains.<\/p>\n<p>Meanwhile, the\u00a0Liqwid\u00a0protocol has also seen a 7-Day increase of 8.92% in its TVL. The lending protocol has a TVL of $13.38 million. Cardano\u2019s\u00a0first stablecoin Djed\u00a0has $14.28 million locked in TVL.<\/p>\n<p>With the rise in TVL, ADA is up 3.3% in the last seven days and is trading at $0.376, according to BeInCrypto data.<\/p>\n<div class=\"clear-both p-3 my-5 border rounded-md notice text-4 border-grey-500 font-body dark:border-grey-700\">\n<h3 class=\"mb-3 font-medium leading-none text-blue-700 uppercase dark:text-lime-600 text-4 lg:font-bold lg:text-5\">Disclaimer<\/h3>\n<p>All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.<\/p>\n<\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/beincrypto.com\/ada-defi-activities-push-tvl-highest-point\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Increasing decentralized finance (DeFi) activity on Cardano has pushed the total value of assets locked on the network to the highest point this year. According to DeFillama data, Cardano\u2019s Total Value Locked (TVL) sits at $180 million \u2013\u00a0the highest since May 2022, when it was $201 million. ADA Token TVL Surges In terms of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-5328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TVL Reaches Peak in 2023 - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/tvl-reaches-peak-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TVL Reaches Peak in 2023\" \/>\n<meta property=\"og:description\" content=\"Increasing decentralized finance (DeFi) activity on Cardano has pushed the total value of assets locked on the network to the highest point this year. 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