March 31, 2023

with cardano [ADA] The Vasyl hard fork is billed for September 22, with several interesting things happening. A few weeks after its launch, Aada, a lending protocol on the Cardano mainnet, has grown in ways no one could have predicted.

According to DeFiLlama, Aada was contribution ADA’s total value locked (TVL) has increased by $219 over the past seven days. Since its launch, this growth has been a cumulative 58,186,603%, adding its own TVL of $360,801.

Source: DefiLlama

all one

Interestingly, decentralized lending and borrowing protocols were not the only ones involved in this growth. ADAXPro, the decentralized exchange operating within the Cardano ecosystem, has also played its part.

DeFiLlama, a TVL aggregator, revealed that ADAX was raised All these hikes led Cardano’s TVL to 2564% in the last thirty days price to hit $79.48 million. On the other hand, the non-performance of many others was not enough to push ADA’s TVL above $100 million as it was in August.

Source: DefiLlama

Ready, set, hold!

In other developments, Input Output Global, Vasil is the firm behind the upgrade communication A message around preparing the ecosystem for this. In an official release on September 20, Input Output noted that more than 98% of Cardano’s mainnet blocks are in development. The company also said that decentralized applications (DApps) on the ADA chain have been tested and confirmed ready.

On-chain metrics have shown that Cardano seems ready to activate the Vasyl hard fork. based on sentiment Information, development activities increased drastically between 19 and 20 September.

Despite the slight decline at press time, it seems there was a great increase in interest in the ADA. The social volume which stood at 9,910 on September 20 reached a high of 17,200.

Source: Sandhi

Likewise, ADA’s 24-hour active addresses maintained somewhat stable levels. At press time, it was 57,700 – about the same as it was between September 19 and September 20. However, ADA sentiment has been less publicized over the same period published That circulation decreased from 341.26 million to 307.42 million.

Source: Sandhi

Additionally, Cardano has received some additional support from exchanges. In Input Output Global’s Atelier communique, only 55% of liquidity across exchanges was ready for the upgrade. Now, the United States branch of the world’s largest exchange, Binance US, has announced that it is also supporting the upgrade.

Due to this addition, liquidity readiness increased by 73%. By its value, ADA declined 0.23% from the previous day. CoinMarketCap Showed that ADA was priced at $0.4466 at press while volume increased by 32.67%.

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