When it comes to Cardano’s price performance and DeFi advances, many are certainly experiencing a religious crisis. To get a better idea of what’s going on, there are some ecosystem metrics that reveal.
ADA-lts in the room
At the time of the press, ADA was trading at $ 0.81. It has risen 1.97% in the last 24 hours and has fallen 0.42% in 7 days. This was a source of concern for many in the Cardano community who wanted immediate profits, but others, including founder Charles Hoskinson, are convinced that DeFi will take the project to new heights. increase.
It started with a Twitter thread where the self-proclaimed “ADAHODLer” shared a locked photo of Cardano’s rising totals. [TVL].. Hoskinson added his view and claimed that more dApps would be launched after the June Vasil hard fork. This has been reported to amplify TVL.
Also, what most people don’t understand is that many Cardano DApps are waiting for the Vasil hard fork to launch in June to benefit from the pipeline. Therefore, it seems that nothing is displayed yet on TVL https://t.co/mMHxwRrF96.
— Charles Hoskinson (@IOHK_Charles) March 12, 2022
Is it higher than desired?
Cardano’s TVL at the press was about $ 188.34 million, up 6.17% in 24 hours.
Source: DeFi Llama
It’s certainly impressive when viewed alone, but the TVL rank of Cardano is 28, making it a small part of the TVL share.
In addition, the number of active Cardano addresses is declining, at the time of writing, around 126,343.
Source: Messari.io
So what is the Vasil hard fork scheduled for June? Why is it so important? According to a post from IOG, the next hard fork, named after Hoskinson’s late friend, focuses on a “set of scaling extensions.” Many changes are aimed at enhancing the development of DeFi, DEX, and smart contracts. Pipeline processing is just one of the scaling methods that is part of Cardano’s overall plan.
Posts
“… IOG is working on a number of new products and features, from DAppstores and new light wallet products to Mithril fast sync solutions and sidechains.”
This explains why Hoskinson is confident that dApps and TVL will be boosted this summer.
The beating continues until morale rises
But what about the morale of the Cardano camp? Now, Santiment’s data reveals that weighted sentiment is still in the negative zone, as ADA prices are almost flat.
Source: Santiment
However, one of the recent controversies is how the Messari platform records Cardano’s transaction volume. [24h].. Cardano’s trading volume is $ 32.38 billion, ahead of Bitcoin and Ethereum, according to Messari statistics. Join..
Needless to say, many investors have used this to increase their faith and spirit.
