According to DeFiLlama data, the Total Value Locked (TVL) in the Cardano DeFi ecosystem has reached $161.81 million, representing a year-to-date growth of 229% from $50.097 million at the start of 2023. TVL is an indicator of the value of digital assets locked in a particular DeFi protocol/ecosystem, and a rising TVL suggests a willingness to scale the protocol/ecosystem. Despite a recent lull in the broader crypto market, the Cardano DeFi ecosystem uptrend remains intact, driven by notable protocol milestones. The interest in Cardano DeFi is increasing thanks to significant milestones achieved by native protocols establishing themselves within the cryptocurrency space.
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Cardano DeFi ecosystem's TVL grows by 229% YTD, reaching $161.81 million
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