ADA Whale, a widely-followed Cardano community member, has taken to Twitter to reveal his belief in Cardano’s future prospect in terms of total value locked (TVL) on the blockchain.
According to the Cardano enthusiast in a tweet, the TVL on Cardano is going into the billions soon, as more projects prepare to launch on top of the blockchain this year.
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In the tweet, ADA Whale shared the reason for the predicted value. He referenced the transaction speed and the level of decentralization of the network as part of the reasons for believing in the future prospects of Cardano.
ADA Whale tweeted, “TVL going into the billions soon Speeds as fast as Solunavax. More decentralised than all BFT chains Already rich in DEXes. Alternatives for Compound, Anchor, AAVE etc lined up. A community evidently ready to bootstrap its own DeFi growth. Cardano is about to bring the pain.”
TVL going into the billions soon
Speeds as fast as Solunavax
More decentralised than all BFT chains
Already rich in DEXes. Alternatives for Compound, Anchor, AAVE etc lined up
A community evidently ready to bootstrap its own DeFi growth
Cardano is about to bring the pain. https://t.co/sbEiDqH5Ic
— ADA whale (@cardano_whale) March 15, 2022
At the time of publication, according to DeFi Llama, Cardano’s total value locked stands at $235.99 million. And Miniswap currently dominates with 52.57% of the total value locked (TVL), dethroning SundaeSwap.
Read Also: Charles Hoskinson Says Cardano (ADA) Total Value Locked (TVL) will Keep Rising. Here’s Why
What’s Total Value Locked for DeFi Protocol?
According to Binance Academy, Total Value Locked (TVL) for decentralized finance (DeFI) protocol is the aggregate amount of funds locked into that protocol. For example, the TVL locked in Ethereum projects is measured in ETH or USD.
The first usable DeFi application on Cardano was launched back in January after launching via an under-the-radar offering. The platform, MuesliSwap, has seen its total value locked grow to $12.6 million. Ahead of it comes Meld (MELD), with over $72 million in TVL.
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