Nearly two dozen new ADA staking pools have been set up, bringing the amount of ADA staked to over 70%
According to a recent tweet by @Cardanians_io, in the past 24 hours, 23 new ADA stake pools have appeared in the network, holding a massive amount of ADA each.
The total number of ADAs hit a new high thanks to this.
23 new pools kick off
The tweets says that each of the 23 new stake pools stores 62 million ADA coins. The live stake, therefore, has risen to a whopping $1.5 billion worth of ADA with the overall amount of staked ADA (total value locked, TVL) now surpassing 73% of Cardano’s native coin in circulation.
This is a positive sign given the current DeFi boom, concludes the author(s) of the tweet.
The aforementioned pools enable users to stake their coins with those pools, i.e., delegate their ADA to the pool in order to earn awards in the same coin in accordance with the proof-of-stake consensus algorithm.
Here’s How Much Locked ADA These Platforms Hold
The previous day, U.Today reported that ADA TVL saw a 13% increase over a 24-hour period as the Cardano ecosystem saw a substantial inflow of funds from investors.
A large part of these funds are now staked in the MinSwap decentralized platform. There is $174.51 million worth of ADA locked there at the moment.
Another platform, SundaeSwap, has $108.14 million in ADA locked away. Following this dapp per amount of ADA staked, Meld has $72.44 million worth of ADA from TVL.
517 Cardano-based project building now
A recent report shows that currently, almost 520 decentralized projects are being created on the Cardano blockchain. Those include NFT collections, DeFi apps and new ADA wallets.
As for NFT collections, they represent 34.7% of all projects on Cardano.