Per the DeFiLlama data, there is a significant plunge in the total ETH tokens locked within its smart contract; however, the reverse is the case as concerns ADA. For a better perspective, while the total ETH in its DeFi protocol as far back as January was pegged at 18.28 million units, the current figure has now plummeted back to 13.33 million units at the time of writing.
Cardano, on the other hand, saw the total TVL in its DeFi smart contracts pegged at 198.65 million ADA tokens as of Jan. 1, and today, this ADA lockup has grown to 571.92 million, an indication of consistent growth and embrace of new applications making their way onto the Cardano blockchain.
However, amid all these, Cardano has a significant upside that investors can watch out for. The effort to the Cardano network remains a very promising push that can attract more Web3.0 developers who can build dApps to rival those on the Ethereum blockchain.
It may take some time, but overall, Cardano has the to become as big, or even bigger, than Ethereum.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
