Cardano DeFi Activity Soars 36% As ADA Opens 2023 With Big Rallies


Decentralized finance (DeFi) activity is soaring on Cardano (ADA) as the Ethereum (ETH) competitor kicks off a red-hot start to 2023.


The DeFi tracker DeFi Llama reports that Cardano has $65.97 million in total value locked (TVL) at time of writing, roughly a 36% increase from January 1st when Cardano’s TVL registered at $48.5 million.


The TVL of a blockchain represents the total capital held within its smart contracts. TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.


Cardano’s top decentralized application (DApp) is Minswap, a multi-pool decentralized exchange (DEX). With $27.26 million in total value locked, Minswap represents more than 41% of the TVL on the Cardano blockchain.

The second most prominent DApp on Cardano is Indigo, a decentralized synthetics trading platform that has $11.35 million in TVL. Third, is WingRiders, an automated market maker (AMM) DEX with $10.87 million in TVL. Both Indigo and WingRiders have seen TVL increases of roughly 25% in the past month.


Cardano’s TVL jump closely mirrors its price surge: ADA is trading around $0.322 at time of writing and is up more than 31% since December 31st. The eighth-ranked crypto asset by market cap still remains nearly 90% down from its all-time high of $3.09, which it hit in September 2021.



Source : [Cardano DeFi Activity Soars 36% As ADA Opens 2023 With Big Rallies]( by Conor Devitt - The Daily Hodl by Conor Devitt / January 12, 2023 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.