Cardano’s TVL Growth Impressive, But Still Outside DeFi Top 20

• Cardano TVL surged to $242M in just two weeks, driven by a 40% rebound in ADA.
• Splash Protocol on Cardano sees a massive 51% TVL increase today.
• Cardano’s TVL is still down from its record high of $506M, ranking 28th among blockchains.

In the past few days, the total value locked (TVL) across various DEX pools on the Cardano blockchain has increased significantly, reaching $242.45 million. Two weeks ago, Cardano’s TVL was $187.94 million, coinciding with ADA’s price falling to $0.321 on July 5, its lowest point for this year.

Meanwhile, ADA’s market value has rebounded by over 40%, reaching a monthly high of $0.4522 on Tuesday. This comeback in ADA price has consequently been reflected in the TVL on the Cardano blockchain.

Splash Protocol leads the pack of dApps that are recently propelling TVL growth on the network, posting a massive increase of 51.78% in the last 24 hours alone. With $20.52 million locked via this platform, its TVL has grown by 116% over the last 30 days.

Meanwhile, the biggest platform where ADA enthusiasts locked their assets is the Minswap DEX, boasting $63.58 million in TVL. While it saw a negative growth of 4.41% in the las…

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