According to DeFiLlama Cardano continues to carve its niche in the decentralized finance (DeFi) sector. The latest data reveals that Cardano’s DeFi ecosystem holds a Total Value Locked (TVL) of approximately $186.76 million.
A variety of protocols within the Cardano DeFi ecosystem contribute to this overall TVL. Minswap, a decentralized exchange (DEX) on Cardano, leads the pack with a TVL of $54.8 million, making up 29.34% of the total. Other significant contributors include Indigo, a Collateralized Debt Position (CDP) protocol with a TVL of $40.39 million, and Liqwid, a lending protocol, holding a TVL of $19.41 million.
When we look at volume, the last 24 hours have seen a total of $7 million flowing through the Cardano DeFi ecosystem. This volume gets distributed across various protocols, with Minswap, Indigo, and Liqwid standing out as major contributors.
The current data highlights Cardano’s expanding influence in the DeFi space. As more protocols emerge and existing ones expand, we can expect an upward trend in Cardano’s TVL and volume, further cementing its place in the DeFi market.
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