- SundaeSwap has a dominance of 47.9 percent of the Cardano total value locked (TVL) closely followed by MinSwap, MuesliSwap, and ADAX Pro respectively.
- The Cardano ecosystem boasts of over 500 decentralized projects ranging from NFT collections, DeFi lending protocols, and crypto-wallets.
IOHK founder Charles Hoskinson has informed Cardano (ADA) enthusiasts to prepare for a major thrill in the short-term horizon. Precisely, as soon as this coming June, the Cardano ecosystem is expected to record the Vasil hard fork. Notably, Hoskinson depicts a picture whereby the total value locked (TVL) will experience an astronomical rise. Hoskinson noted in a tweet;
What most also don’t understand is that many Cardano DApps are waiting for the Vasil hard fork in June to launch to benefit from pipelining. So it seems we ain’t seen nothing yet on TVL,
According to data analytics provided by DeFillama, SundaeSwap has a dominance of 47.9 percent of the Cardano total value locked (TVL). Closely followed by MinSwap, MuesliSwap, and ADAX Pro respectively.
However, Cardano’s TVL is fighting among other crypto blockchains’ TVL including Solana, EOS, Ethereum among others. Nevertheless, the ecosystem seems more than equipped and ready to lead the DApps’ TVL.
Notably, Hoskinson was interacting with a tweet from one of the ADA communities who has been furious with popular crypto-journalist Laura Shin for calling out on one of the members. As CNF previously reported, Shin accused Hoskinson of not completing a degree course leave alone the Ph.D.
“$1,7M TVL on January 12th Cardano was 40th… 2 months later $261M TVL and it’s 26th… And it is only the very beginning of DeFi for Cardano. Many more DEX’s and a lot of dApps coming soon,” one of the tweets Hoskinson interacted with from the ADA community.
Cardano ecosystem growth at a glance
The Cardano ecosystem boasts of over 500 decentralized projects ranging from NFT collections, DeFi lending protocols, and crypto-wallets.
The ecosystem has experienced notable growth over the past two years, which was crowned by securing a position in the top 10 digital assets. According to market data provided by CoinGecko, Cardano (ADA) traded around $0.79 and ranked position 9. There are 45 billion ADA in total supply, and the asset has a market cap of approximately $25.5 billion.
Worth noting, the asset is down 27 percent, 26 percent, and 7.3 percent in the past year, 30 days, and 14 days respectively through today. That means all ADA holders who have invested in the past few months are generally selling coins at a loss. A popular phenomenon in the crypto and stock market in the recent past.
Reportedly, the Cardano ecosystem has welcomed over 1,000 smart contract protocols and over 3 million new ADA wallets Indeed, a lot is happening during the crypto winter in the Cardano’s ecosystem that could see its future growth prospects extremely high.
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