Cardano (ADA), the native token of the Cardano blockchain, has seen a significant increase in large transactions, totaling $2.5 billion in just 24 hours. This rise, based on recent data, indicates a growing interest and confidence in the capabilities of the cryptocurrency ecosystem.
Along with this increase in transaction volume, the total value locked (TVL) in the decentralized finance (DeFi) blockchain sector has also seen a significant increase, rising to over $180 million.
Furthermore, the volume of trading on decentralized exchanges (DEXs) within the Cardano ecosystem has been steadily climbing, indicating the growing interest in decentralized trading and the growing liquidity of ADA tokens.
The surge in large transactions and the price movement of ADA
In a period of relative calm in the market, great activity emerged from large investors. The current price of the ADA, as you reported Queen Gekko, standing at $0.374995, down nearly 2% over the past 24 hours. ADA has also seen a decline of 1.1% over the past seven days.
Source: Coingecko
associated with $2.5 billion In large transactions, the total number of ADA coins involved has increased by nearly 6 billion. Specifically, the number of large transactions grew to 14,780, which is an increase of 4,790 compared to the previous day.
The Cardano DeFi ecosystem sets new records
Cardano’s DeFi ecosystem hit an impressive milestone on May 31, reaching an all-time high of 463 million ADA tokens. This remarkable growth reflects the continued expansion of DeFi activities on the network since the beginning of the year.
TVL started the year in the cryptocurrency DeFi sector with around $50 million, which has shown a significant increase over time. This upward trajectory points to the thriving DeFi ecosystem on the Cardano blockchain.
The rise in TVL in Cardano’s DeFi ecosystem is in line with a parallel increase in the volume of DEX decentralized exchanges, as evidenced by data from devilama. Cardano saw its highest weekly transaction volume in the last three weeks of May, rising from $41 million to $98.26 million. At the time of writing, Cardano has $183.16 million in TVL.
Source: DefiLlama
Growth continues in June
The positive trend in DEX volume extended into June, with a seven-day current trading volume of $127.1 million. Data from DeFillama reveals that the first two days of June alone recorded transactions of $35.28 million, confirming the continued growth and momentum in ADA decentralized exchange activity.
ADA metrics indicate positive sentiment surrounding the Cardano ecosystem and its native token. While the short-term price action of ADA showed some volatility, the steady stream of large transactions demonstrates continued confidence in the long-term potential of the Cardano blockchain and associated assets.
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