According to TapTool, Cardano’s [ADA] Total Value Locked (TVL) has no option but to pursue an upward trajectory. The TVL simply represents the number of assets locked or staked in a protocol. And the metric helps to indicate the liquidity impact on DeFi applications based on the assets deposited in respective smart contracts.
<p lang=«en» dir=«ltr» xml:lang=«en»>Cardano's Total Value Locked (TVL) is set for exponential growth, driven by innovation, community, and strategic alliances. Here's why you should keep a close eye on #Cardano— TapTools (@TapTools) April 7, 2023
Is your portfolio green? Check the Cardano Profit Calculator
Giving reasons for the projection, the wallet profiler and portfolio tracker mentioned that the scalable and eco-friendly solution offered by the project could play a big part. And with a steady increase over the past few months, Cardano could become the fastest-growing ecosystem in the blockchain space.
Furthermore, the seven-tweet-long thread pointed to the thriving developer community, collaborations, and Cardano’s openness to expanding to other markets as other grounds poised to make the prediction a reality. The thread noted,
“With a focus on financial inclusivity and real-world use cases, Cardano is targeting emerging markets. This opens up a massive growth potential as more users join the ecosystem.”
However, the year-long drop in TVL has raised concerns about whether Cardano can reclaim its ATH, which was once above $300 million. But at press time, DeFi Llama showed that the TVL has been able to gain 26.28% in the last 30 days. This suggests that there had been more unique deposits in the chains under the Cardano protocol.
Source: DeFi Llama
But it is also important to note that
Read more on ambcrypto.com