The total value locked (TVL) in Cardano staking has reached 398.55 million ADA, or approximately $148.55 million, according to data from DeFiLlama. This represents a significant increase from the TVL of 200 million ADA that was reported in early May.
The growth in Cardano staking is being driven by a number of factors, including the increasing popularity of the Cardano network, the launch of new staking pools, and the rising price of ADA.
Cardano is a third-generation blockchain platform that is designed to be more scalable, secure, and energy-efficient than previous generations of blockchains. The platform has been gaining popularity in recent months, due in part to the launch of a number of DeFi projects on the network.
DeFi is a financial system that is built on top of blockchain technology. It allows users to access financial services such as lending, borrowing, and trading without the need for a third party.
The growth of DeFi on Cardano is being driven by a number of factors, including the low fees associated with using the network, the security of the platform, and the growing community of developers who are building DeFi applications on Cardano.
The increasing popularity of Cardano staking and DeFi is a positive sign for the future of the platform. It suggests that Cardano is becoming a more attractive option for users who are looking for a secure, scalable, and affordable way to participate in the DeFi ecosystem.
