Cardano (ADA) continues its ecosystem expansion with a 30 percent increase in total assets locked (TVL).
Many altcoins, ecosystems and projects continue their development. The recent rise in the crypto money market also contributes to this development. One of these projects, Cardano, crowned its price-based rise with ecosystem expansion. The popular cryptocurrency ADA has risen 25 percent in the past week. This rise also brought about an increase in the total rate of locked assets. Cardano TVL rose nearly 30 percent.
Cardano Increases Total Locked Assets to $65M
According to data shared by DefiLlama, Cardano (ADA) total locked-in asset (TVL) has increased to $65 million. This rise was driven by the ADA price increase and Cardano ecosystem expansion.
Three DeFi projects in the Cardano ecosystem account for approximately $44.5 million of this TVL. These projects were Minswap with a TVL of $26.54 million, WingRiders with a TVL of $10.56 million, and SundaeSwap with a TVL of $7.5 million.
This increase in activity in the Cardano network and the rise of TVL also contributed to the trust of the project. The rise in the amount of TVL highlighted the functionality of DeFi products.