DeFi on Cardano hits new ATH in pursuit of its top rivals
that the Total Value Locked on Cardano has hit a new all-time high of 336.1 million ADA coins.
This figure, worth $110.39 million at the time of writing, featured consistently steady growth from the start of February until the present time. With the proliferation of DeFi protocols on Cardano,Image Source: DeFiLlama Cardano is a smart contract hub with a high level of throughput, at least when compared to the existing alternatives. Despite its legacy, technological advancement and publicity, the protocol lags behind its rivals, including Solana and Avalanche .
Hitting this current ATH in TVL is a notably impressive milestone as it showcases the steady onboarding of new projects on the blockchain. As earlier this week, the Cardano network is highly focused on protocol functionality and is making concerted efforts to build its Hydra Head sidechain that will embody the scalability of the underlying blockchain.
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