Cardano’s TVL presently stands at $361.25 million
According to data from DefiLlama, the Cardano DeFi ecosystem has attracted nearly $230 million in additional funds since early March.
This is reflected in the surge of the total value locked (TVL) from roughly $199.74 million to all-time highs of $434.74 million. The spike in TVL was observed from March 1 to March 28, when the present all-time highs were reached.
However, after retreating from all-time highs, Cardano’s TVL currently stands at $361.25 million. Without the inclusion of staked governance tokens in TVL’s valuation, Cardano’s TVL currently stands at $262.36 million. The majority of funds on the network remain focused on the decentralized Minswap platform, with $164.25 million currently tied up.
Second place is held by the recently launched SundaeSwap decentralized finance platform, with $94.26 million locked.
Liquidity to be injected into Cardano’s DeFi start-ups
Digital investment firm Waves Financial has announcement the launch of a new ADA yield fund to support start-ups in Cardano’s rapidly expanding DeFi platform.
The fund aims to provide liquidity, with millions in line to support new decentralized finance (DeFi) platforms launched in the Cardano ecosystem, starting with an initial $100 million.
As stated in a statement, the new fund will support new decentralized exchanges, lending protocols, and stablecoin issuers built on Cardano.
Presently, more than 500 projects are building on Cardano. With the release of new solutions on the chain, Cardano becomes more relevant for institutional investments that often look for real value behind the project rather than speculative returns.
The number of whales on the Cardano network also increased by 1.7%, with around 42 addresses holding 1,000,000 to 10,000,000 ADA and created since March 21. These whales hold between $1.2 million and $12 million in ADA, according to data from Santiment.
Additional data provided by on-chain analytics firm IntoTheBlock shows that the volume of large transactions exceeding $100,000 jumped by 50 times in 2022.
