With the Cardano (ADA) Vasil hard fork live as of yesterday, there seems to be quite a few interesting things that have been happening. For example, just a few weeks after its launch, Aada, which is a lending protocol on the ADA mainnet, had its TLV increase in a way that nobody could have anticipated.
Data from DeFiLlama shows that Aada had contributed a staggering $219,000 increase to ADA’s Total Value Locked (TVL) in the last week. ADA’s cumulative increase since its launch was 58,186,603%.
In addition, the non-custodial decentralized exchange operating within the ADA ecosystem, ADAXPro, has also played its part in contributing to the ecosystem’s TVL. DeFiLlama also revealed that ADAX’s TVL had risen 2,564% in the last thirty days.
Both of these hikes have played a major role in taking ADA’s TVL up to $82.72 million. However, ADA’s TVL was not able to break above $100 million as it did in August this year. This can be mainly attributed to a number of other non-performers in the ecosystem.
Looking at ADA’s price movement, the token has seen its price rise by 0.55% over the last seven days and 5.95% within the last day according to the crypto market tracking website, CoinMarketCap. Currently, ADA is trading at $0.4699 after being able to set a daily high at $0.4791. It set a 24-hour low of $0.4434.
ADA/USDT daily chart (Source:CoinMarketCap)
The price of ADA is attempting a break above the 9 EMA line on its daily chart today. It was able to do so when it set its daily high, but was then brought back down. There is still some support for the token as the last 2 days have seen mostly buy volume for ADA.
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Source: Cryptocurrency - investing.com
