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Cardano DeFi Ecosystem Hits 500 Million ADA in Total Value Locked (TVL)

The Cardano blockchain has achieved a major milestone by surpassing 500 million ADA in total value locked (TVL). This comes just a month after TapTools predicted a significant increase in the network's TVL. On-chain data shows that Minswap is the leading protocol on the network with a TVL of $55.56 million, followed by Indigo with $28.5 million locked. Despite the impressive TVL growth, the price of ADA has not been significantly impacted, with the cryptocurrency experiencing a steady decline in value over the past month. ADA currently ranks as the seventh-largest cryptocurrency with a total market cap of $12.79 billion.

Cardano Cardano $0.88
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