Cardano Surpasses Kusama in Total Value Locked on DeFi Applications

• ADA price at the time of writing – $ 0.8429
• Cardano Network currently holds a total locked value of approximately $ 293.5 million
• DA grew 5.9% in February to a record high

The Cardano ($ ADA) network has surpassed Polkadot’s canary organization Kusama ($ KSM) and has been trapped in decentralized applications this month as the value secured by savvy contracts has increased by approximately $ 100 million. It’s definitely worth it.

The Cardano network, first covered today, now holds approximately $ 293.5 million in full value locked across six compliant conventions, as shown by information from DeFi Llama in the decentralized financial review phase. doing. Kusama also has $ 290 million in 52 tournaments.

MuesliSwap has been locked in total since it grew to $ 12.5 million.

As the Binance Academy shows, the DeFi Convention’s Total Value Locked (TVL) is a measure of the total assets brought into the convention. For example, TVL protected by the Ethereum project is usually quoted in ETH or USD.

Kusama, which is really important, is the pre-creation environment for Polkadot networks, where engineers can try and test new blockchains and applications before delivering them to the underlying organization.

Cardano’s first available DeFi application was sent back in January after being sent back by a discreet contribution. The stage Muesli Swap has been fixed at an absolute value of $ 12.5 million since its development. In front of it is Meld ($ MELD) with a TVL of over $ 68 million.

Cardano’s DeFi biological system is driven by CFund, a local application backed by Alameda Research, a quantitative digital currency exchange company and liquidity supplier founded by FTX CEO Sam Bankman-Fried. Sundae Swap is a widespread decentralized trading and robotized liquidity arrangement convention. And double peak group.

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Growth of ADA certified as long-term holder

Behind it is Minswap, a decentralized transaction, which saw 400% of fully valuable locked hops seven days after it was launched, and is currently locked at $ 94 million.

Recently, Charles Hoskinson, Prime Supporter and CEO of IO Global, an organization responsible for Cardano’s innovative work, has a Vasil Hard Fork Combinator (HFC) opportunity, most likely in June. It is considered.

More specifically, the number of addresses holding ADA over time increased by 10.9% in January, 5.78% in December, and then 32.1% last month to 408,000, with HOD Ler continuing to accumulate digital money. Is proposing.

As shown in CryptoCompare’s latest asset report, the number of addresses holding ADA reached a record high of 5.9% in February, with a rise in long-haul owners and a 13.4% rise in cruisers. Did. In 3.62 million places. The number of dealers in the organization was down 25.2% to 770,000.