- Cardano’s Q4 saw a surge in TVL and stablecoin value locked, marking substantial growth.
- DeFi projects like Minswap and Indigo drove ecosystem activity, showcasing Cardano’s evolving landscape.
- Partner chains like Midnight and governance initiatives through Project Catalyst fostered community involvement.
A report from Messari show Cardano’s ecosystem has witnessed significant growth in the last quarter, marked by a surge in total value locked (TVL) and stablecoin value locked, alongside advancements in DeFi projects and technologies. As the network evolves, let’s delve into the recent developments and the factors driving Cardano’s flourishing ecosystem.
In the DeFi ecosystem Cardano’s TVL skyrocketed, surging by 166% quarter-on-quarter (QoQ) to reach a new all-time high. Notably the network’s stablecoin value lock also saw a substantial increase of 37% QoQ. This surge in liquidity increased Cardano’s TVL ranking from 34th to 11th over the course of the year, highlighting its growing prominence in the crypto space.
Minswap, an automated market maker, retained its position as the most popular dApp on Cardano, witnessing a significant increase in transaction…
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