Cardano (ADA) TVL Gains 194,000% since 2022 January

Cardano’s total value locked gains 194,000% since 2022 January.

A renowned Cardano fan tweeted about the impressive growth in TVL of ADA locked in various DEC within two months. Cardano_Whale, a Twitter user, posted ADA total value locked in Cardano has increased by 194,000% since 7 January 2022.

The update shows AD’s total value locked surged remarkably to 272 million today from nearly 1.4 million on 7 January 2022. That represents a 194,000% surge within the past two months. That reflects increased interest in Cardano products.

TVL to Hit $1 Billion by Year-End

The TVL in USD has also grown at an impressive rate lately. ADA’s total value locked in USD stands at 4160.79 million, indicating a 5.32% network surge over the past 24 hours. Cardano has seen increased user activity since introducing ‘smart’ contact capabilities.

However, Cardano blockchain has attracted six DEXs since enabling ‘smart’ contract functionality. They include ADA Pro, Minswap, and SundaeSwapDespite the six options, Cardano’s first-ever DEX SundaeSwap became the best option for ADA fans.

DeFi Llama data shows SundaeSwap accounted for 71.7% ($115.29 million) of the Cardano’s total value locked $160.79 million. Surprisingly. Decentralized exchanges such as Meowswap, Matrixswap, Cardax, YaySwap, Occam.Fi, Ray Network, and ADA Finance are developing to launch Cardano’s ecosystem in the future.

As more decentralized networks consider launching on Cardano, analysts expect the total value locked in USD to climb to more than one billion dollars before 2022 end.

ADA To Surge in 2022

While publishing this blog, ADA traded near $0.81. The alternative coin reflected downside trends within the crypto spectrum, losing 4.8% of its price within 24 hours. Though the crypto market has battled bearish sentiments since the year started, analysts believe the alt will surge in 2022.

For now, Cardano will mimic broad market sentiment. ADA will likely experience bearish reactions within the coming day as bears dominate the financial space. Meanwhile, Cardano can be a worthy investment for long-term investors.

What are your thoughts on Cardano’s TVL growth? You can leave your reply in the comment area below.