Cardano (ADA) Deposits See Huge Change; Genesis Impact To Worsen?
Cardano (ADA) News Updates: While the Digital Currency Group (DCG) is in the news for its exposure to FTX, several cryptocurrencies are seeing major changes. Over the last two weeks, most cryptocurrencies including Cardano (ADA) are following a downward...
Cardano (ADA) News Updates: While the Digital Currency Group (DCG) is in the news for its exposure to FTX, several cryptocurrencies are seeing major changes. Over the last two weeks, most cryptocurrencies including Cardano (ADA) are following a downward curve. Meanwhile, the deposits into decentralized protocols are increasing as fears over the Genesis insolvency rise. It remains to be seen if the impact of the FTX related contagion would spread to worsen the market situation.
Rise In Cardano Total Value Locked
According to data from DefiLlama, Cardano total value locked (TVL) rose significantly in recent times. In the last 24 hours, the TVL rose by over 5%, taking the amount to $53.61 million. Total value locked is the value of assets stacked in DeFi protocols.
Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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