{"id":84492,"date":"2024-07-20T22:13:39","date_gmt":"2024-07-21T02:13:39","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=84492"},"modified":"2024-07-20T22:13:41","modified_gmt":"2024-07-21T02:13:41","slug":"cardano-defi-tvl-moves-up-20-as-hydra-prospects-gets-focus","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/cardano-defi-tvl-moves-up-20-as-hydra-prospects-gets-focus\/","title":{"rendered":"Cardano DeFi TVL Moves Up 20% As Hydra Prospects Gets Focus"},"content":{"rendered":"\n

Due to the recent Hydra update<\/a>, which has enhanced price sentiment, Cardano DeFi Total Value Locked (TVL) has increased by 20% in the past two weeks.<\/p>\n\n\n\n

\"Cardano
Cardano DeFi TVL Moves Up 20% As Hydra Prospects Gets Focus<\/em><\/figcaption><\/figure>\n\n\n\n

Due to a recent Hydra update, the Cardano Decentralized Finance (DeFi) Total Value Locked (TVL) has experienced an upward trend.<\/p>\n\n\n\n

Cardano DeFi TVL Experienced Noticeable Rebound<\/strong><\/h3>\n\n\n\n

As evidenced by data from DeFiLlama\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, which indicates that it has increased to $243.17 million. In about two weeks, the network has experienced a more than 20% increase in this metric compared to July 6, when it was $242.13 million.<\/p>\n\n\n\n
\"\"<\/figure>\n\n\n\n

The market capitalization of stablecoins on the Cardano ecosystem is $15.88 million, and the 24-hour trading volume is $267.3 million. Notably, this suggests that Cardano maintains an active and robust market presence. It also serves as an indicator of the networks' expanding influence within the DeFi ecosystem.<\/p>\n\n\n\n

The TVL is a critical metric representing the total quantity of assets locked in the Cardano ecosystem, indicating the level of activity and investment in the DeFi space<\/a>.<\/p>\n\n\n\n

In the interim, this surge has occurred after the announcement on X by significant pool operator Stake With Pride that Cardano Hydra will implement “God mode” on the network. This action will benefit private ephemeral Layer-2 networks employing the Cardano native token ADA.<\/p>\n\n\n\n

This category of L2 protocols will experience high transactions per Second (TPS) at nearly negligible cost, as indicated by the Hydra prospect. The Hydra development was further described as “ultra,” and a repost from founder Charles Hoskinson validated the update.<\/p>\n\n\n\n

This announcement regarding Hydra refutes the notion that the project has been abandoned. In Q1, a video surfaced on the Internet that purported to demonstrate that Cardano was no longer engaged in the development of Hydra. Charles Hoskinson approached X at that time to clarify that this was inaccurate. He made it abundantly evident that the issue was merely a matter of false information, as Cardano was at a stage where its team was more enthusiastic and productive.<\/p>\n\n\n\n

Additional Cardano Developments<\/strong><\/h3>\n\n\n\n

In addition to the DeFi TVL, the Project Catalyst Fund 12 campaign is another notable feature of the Cardano ecosystem<\/a>. The Cardano Foundation announced at the outset of this week that the Project Catalyst Fund 12 would shortly conclude. Consequently, it provided a public indication of its initial involvement in Project Catalyst voting.<\/p>\n\n\n\n

It is essential to highlight that Project Catalyst is a testament to Cardano's dedication to promoting innovation and community-driven development.<\/p>\n\n\n\n

The price of ADA is currently trading at $0.4375, which represents a 0.2% decrease over the past 24 hours despite the numerous improvements, additions, and uptrends. According to an optimistic prediction, the ADA price is expected to experience a bullish surge that could eventually lead to the $0.6 target and the $1 milestone.<\/p>\n","protected":false},"excerpt":{"rendered":"

Due to the recent Hydra update, which has enhanced price sentiment, Cardano DeFi Total Value Locked (TVL) has increased by 20% in the past two weeks. Due to a recent Hydra update, the Cardano Decentralized Finance (DeFi) Total Value Locked (TVL) has experienced an upward trend. Cardano DeFi TVL Experienced Noticeable Rebound As evidenced by […]<\/p>\n","protected":false},"author":59,"featured_media":77652,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1143,193,197,20688],"class_list":["post-84492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-cardano","tag-defi","tag-hydra-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/04\/Cardano-Whale-Transactions-Rise-Hinting-ADA-Price-Reversal.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=84492"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/77652"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=84492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=84492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=84492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}