U.Today - Cardano has seen its total value locked (TVL) ascend to an impressive new high, 637 million ADA. In terms of the US dollar, this translates to $153.7 million.
The recent surge suggests renewed interest and activity in the Cardano ecosystem.
Notably, this figure is still short of its peak dollar TVL, which stood at $326 million in March 2022.
The top projects on Cardano
Minswap leads the pack of projects on with a TVL of $41.24 million, marking a 1.80% rise in the past day.Indigo, a collateralized debt position (CDP) platform, with a TVL of $39.66 million and a one-day increase of 2.10%.
, a lending platform, sits in the third spot with a TVL of $18.41 million. Other noteworthy projects include Djed Stablecoin, Optim Finance, and VyFinance.
Interestingly, while some projects like , which operates on two chains, have seen positive growth over the last month, others like VyFinance have experienced a decline in the same period.
Top chains by TVL
continues to dominate the decentralized finance (DeFi) space, boasting a TVL of $19.882 billion and over 336,000 active users. Tron and Binance Smart Chain (BSC) follow with TVLs of $6.648 billion and $2.68 billion, respectively. Although Ethereum retains the top spot, it has seen a decrease of 16.01% over the past week.Meanwhile, emerging chains like Arbitrum and Polygon have also made their presence felt.
For instance, Solana, despite having a TVL of $321.26 million, has witnessed a promising 2.79% increase in active users over the past day, signaling potential growth and adoption in the near future.