Cardano’s TVL was facing slight increase in last 24 hours
Cardano Multi-Pool Decentralized Exchange Minswap Despite the sell-off in the market on October 13, a new record has been set. The cryptocurrency market fell on Thursday after higher-than-expected inflation figures were released ahead of a surprise rally. ADA lost over 10% of its value within 24 hours as other altcoins posted significant losses.
Despite this, the Minswap DEX has gone ahead to record its second largest trading volume day in the last six months. Increased volatility generally leads to higher trading volumes on any given market as traders take advantage of volatility on the markets.
At the time of publication, Cardano’s TVL was experiencing a slight increase over the past 24 hours and stood at $68.24 million (without including stake). However, with the stakes, TVL was recorded at $86.11 million. Almost all Cardano DEXs have shown positive growth over the past 24 hours, indicating an inflow. Minswap, Muesliswap and VyFinance showed gains of 5%, 11.39%, and 9.76% over the past 24 hours.
In March, Minswap announced its debut on the Cardano mainnet and is now the largest of the Cardano decentralized exchanges tracked by DefiLlama. With approximately $34.85 million in TVL, Minswap retains 40.47% market dominance.
Three weeks later, Vasil
The Vassil upgrade was launched on the mainnet on 22 September, while full capabilities were deployed on 27 September.
The positive effects of the upgrade are already being felt in the form of a reduction in transaction sizes and fees. The impact, however, remains yet unseen on Cardano’s Defi TVL, which refers to the overall value of crypto assets placed in its decentralized finance (DeFi) system — or DeFi protocols, which have remained flat since the Vasil upgrade.
