TVL of the Cardano network jumped by 30%

The results of Cardano’s work in the first decade of January showed an increase in the locked value of assets and the overall activity of network participants.

According to DefiLlama, the total value of assets locked in the Cardano network (TVL) has increased by more than 30% since the beginning of the year. In absolute terms, growth was about $64 million by the end of the first decade of January 2023.

Currently, three DeFi projects worth over $10 million each are actively developing on the Cardano network. The leader is Minswap, a decentralized project with a TVL of $26.55 million and a network dominance of 41.02%.

DefiLlama’s analytics show that the growth of the TVL network was accompanied by an increase in the total volume of transactions on DeFi protocols based on the Cardano blockchain. Over the past seven days, transaction volume has increased by about 57%. For example, Minswap grew by about 76%.

On Tuesday, December 10, Cardano ADA native blockchain asset traded at $0.3185. The price of ADA is up over 25% in the last week.

Crypto community experts suggest that one of the likely reasons that could affect the activity of Cardano users and increase the price of ADA is the expectations of the upcoming launch of the DJED algorithmic stablecoin.

Earlier this week, Cardano founder Charles Hoskinson announced plans to open a Hoskinson Health & Wellness multidisciplinary clinic where patients can pay for medical services with cryptocurrency.

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