December 8, 2022

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

According to DeFiLlama, Aada . was Contributed A massive $219 increase to ADA’s total locked value (TVL) in the past 7 days. Since its launch, this has been a cumulative increase of 58,186,603%, with its TVL adding $360,801.

Source: DefiLlama

All in one

Interestingly, decentralized lending and borrowing protocols were not the only ones participating in the rise. ADAXPro, a decentralized, non-custodial exchange operating within the Cardano ecosystem also played its part.

DeFiLlama, a TVL aggregator, revealed that ADAX had Has risen 2564% in the last thirty days. All these heights led to TVL for Cardano Deserves to reach $79.48 million. On the other hand, the failure of a number of others was not enough to raise ADA’s TVL to more than $100 million as it was in August.

Source: DefiLlama

Ready, get ready, wait!

In further developments, Input Output Global, the company behind Vasil’s upgrade communication A message about the ecosystem’s readiness for it. In an official release on September 20, Input Output indicated that more than 98% of Cardano’s mainnet block was in the development phase. The company also stated that its decentralized applications (DApps) have been tested on the ADA chain and confirmed as ready.

On-chain gauges showed that Cardano looked ready to activate Vasil’s hard fork. Based on Emotion Data, development activity increased significantly between September 19 and 20.

Despite the slight decrease at the time of publication, it appears that interest in ADA has been on a significant increase. The social size of 9,910 on September 20 increased to 17,200.

Source: Santiment

Likewise, the 24-hour active ADA headlines maintained some stable levels. At the time of publication, the number was 57,700 – roughly the same period between September 19 and September 20. However, ADA traded less during the same period as Santiment open That there was a decrease in trading from 341.26 million to 307.42 million.

Source: Santiment

In addition, Cardano has received some additional support from the exchanges. In the Input Output Global workshop statement, only 55% of the liquidity across the exchanges was ready for promotion. Now, the US subsidiary of the world’s largest exchange, Binance US, has announced that it is also supporting the upgrade.

Due to this addition, liquidity readiness increased to 73%. As per its price, ADA posted a 0.23% decrease from the previous day. CoinMarketCap It showed an ADA price of $0.4466 at the press while there was a 32.67% increase in volume.

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