Cardano Hits TVL Of $100m And A $30m Volume

Unfortunately, the project’s cryptocurrency, ADA, does not reflect this growth, as the majority of its holders have seen losses.

Cardano (ADA) recently reached a number of new milestones, as developers and users continue to push the rapid growth of the network.

The appearance of numerous new use cases on Cardano’s network resulted in a surge in total active addresses, which recently climbed to 162,000. Cardano also experienced growth in total transaction volume, which exceeded $30 million. Additionally, Cardano Network’s Total Value Locked (TVL) has reached nearly $100 million.

Cardano revealed that a major portion of TVL amount originated from SundaeSwap, Cardano’s first DEX. Another decentralized exchange, MuesliSwap, holds down second place in providing TVL, with approximately $3 million, an amount significantly lower than SundaeSwap’s $96 million.

ADA Resists Joining the Rally, Leaves Holders with Losses

With new use cases and functionality, Cardano’s fundamental value continues to grow daily. However, its native cryptocurrency, ADA, does not reflect that growth and is still significantly undervalued.

The first half of February 2022 has seen a strong recovery for the majority of crypto prices, but ADA continues to resist the rally. After previously losing nearly 30%, ADA barely recovered 15% in the most recent period after failing to participate in the broader market rally.

The coin suffered great losses after reaching its ATH on September 3rd, 2021. It declined 60% in the months that followed, bringing it to the price of $1.10 at the time of writing (February 11th, 2022). Analytics sites show that less than 20% of ADA holders are making money off their initial investments, while 66% of those who bought ADA previously have experienced losses.

Though Cardano has experienced notable growth–despite ADA’s inability to “catch up”–would-be investors are wise to exercise caution before engaging with this project.

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