23 Sep 2022

Cardano’s Total Value Locked For This Month Sits at $82.72M

Cardano’s Total Valu

With the Cardano (ADA) Vasil hard fork now live, it appears that quite a few intriguing things have been happening. 

For example, just a few weeks after its inception, Aada, a lending protocol on the ADA mainnet, saw its TLV increase in a way that no one could have predicted.

As per sources data, Aada contributed a spectacular $219,000 boost to ADA's Total Value Locked in the previous week. Since its inception, ADA has increased by 58,186,603%.

Furthermore, the non-custodial decentralized exchange functioning within the ADA ecosystem, ADAXPro, has also contributed to the ecosystem's TVL. Sources also stated that ADAX's TVL had increased by 2,564% in the past thirty days.

Both of these hikes have played a significant role in increasing ADA's TVL to $82.72 million. However, ADA's TVL did not surpass $100 million, as it did in August of this year. This is mainly due to a number of other underperformers in the ecosystem.

As per CoinGabbar statistics, the price of ADA has decreased by 1.5% in the last seven days and increased by 2.5% in the last 24hrs. The Cardano price is currently trading at $0.4569 after hitting a day high of $0.4791. It hit a 24-hour low of $0.4434.

On its daily chart, the price of ADA is attempting to break above the 9 EMA line today. It was able to do so when it set its daily high, but it was then forced back down. The token still has some support, as the last two days have witnessed largely buying volume for ADA.

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