March 24, 2023

along with Cardano [ADA] The Vasil hard fork was billed on September 22, and a lot of interesting things happened. A few weeks after its launch, Aada, the lending protocol on the Cardano mainnet, has grown in a way no one could have predicted.

According to DeFiLlama, Aada has contributed The total value locked (TVL) of ADA has increased by $219 in the past 7 days. Since launch, this growth has accumulated to 58,186,603%, with its own TVL increase of $360,801.

Source: DefiLlama


Interestingly, decentralized lending protocols are not the only ones involved in the rate hike. ADAXPro, a non-custodial decentralized exchange operating in the Cardano ecosystem, also played a role.

TVL aggregator DeFiLlama reveals ADAX has rise 2564% in the last 30 days. All these hikes lead to Cardano’s TVL worth reached $79.48 million. On the other hand, non-performance by a few others was not enough to raise ADA’s TVL above $100 million in August.

Source: DefiLlama

Get ready, get ready, wait!

Among other developments, Input Output Global, the company behind the Vasil upgrade communicated Information on getting ready around the ecosystem. In an official release on September 20, Input Output stated that over 98% of Cardano’s mainnet blocks are in development. The company also said that decentralized applications (DApps) on the ADA chain have been tested and confirmed to be ready.

On-chain metrics show that Cardano appears to be preparing to activate the Vasil hard fork.based on mood The data showed that development activity increased significantly between September 19 and 20.

Although slightly down at press time, interest in ADA appears to be increasing substantially. The social volume on September 20 was 9,910, which has soared to a high of 17,200.

Source: Santiment

Likewise, ADA’s 24-hour active addresses have maintained a certain level of stability. At press time, the number was 57,700, roughly the same as the data for the September 19-20 period.However, ADA circulated less during the same period as Santiment disclose Circulation fell from 341.26 million to 307.42 million.

Source: Santiment

Additionally, Cardano has received some additional support from exchanges. In Input Output Global’s studio bulletin, only 55% of the exchange’s liquidity is ready to upgrade. Now, the U.S. arm of the world’s largest exchange, Binance US, has also announced support for the upgrade.

As a result of this increase, liquidity readiness increased to 73%. At its price, ADA was down 0.23% from the previous day. Coin market value The print price of ADA was shown at $0.4466 while the volume increased by 32.67%.

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