Cardano is currently trading at $0.3282 with a 24 hour trading volume of 16.35% up. Its market cap is now at $11.52 B, which is a solid position in the cryptocurrency market. This is mostly due to its recent surge of 16.35% in the last 24 hours. Cardano price is showing great potential as a crypto asset, and is likely to continue increasing in value in the future.
Cardano DeFi has seen a significant increase in Total Value Locked (TVL) over the past two months, reaching an impressive $90 million – the highest since November. This 40% growth this year has outpaced Ethereum and BNB Chain’s growth, although it is still a fraction of their TVLs. Unfortunately, Cardano DeFi is still 79% down from its all-time high in March, showing that a lot of work still needs to be done to reach its full potential. Nevertheless, this two-month high is a promising sign of things to come.
More about Cardano
ADA Cardano is a cryptocurrency and blockchain technology platform developed by the IOHK research and development company. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. It is designed to be a platform for smart contracts and decentralized applications, and its aim is to deliver more advanced features than any protocol previously developed. It is powered by the Cardano Settlement Layer (CSL), which is a blockchain protocol that uses a proof-of-stake consensus mechanism to secure its network. ADA is the native cryptocurrency of the Cardano platform and is currently the world’s sixth-biggest cryptocurrency by market cap. It is used to pay for transaction fees and can also be used to create smart contracts and execute transactions on the Cardano blockchain.
