\t\t\t\t\t![\"\"](\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2021\/07\/Cardano-as-the-best-choice-of-watches-1000x600.jpg\" "\\"Cardano")
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- The Cardano ecosystem has a rich set of DeFi developers, investors, community, and online presence<\/b>.<\/span><\/li>\n
- The Cardano network has a Total Value Locked of $11.68 million, whereby SundaeSwap, ADAX Pro, and MeawSwapFi lead with $10.9 M, $751k, and $35k, respectively.<\/b><\/li>\n<\/ul>\n
\nThe Cardano (ADA ) network is flexing its blockchain powers amid the months-long bear market. According to an update by ADA whale via a recent series of tweets, it is evident that Cardano\u2019s on-chain activity is on a rocket headed to the moon. Reportedly, Cardano\u2019s NFT volume hit 3 million and 2.8 million ADA on 17 and 18 Oct, respectively. Consequently, the Cardano network ranked as the third largest NFT protocol.<\/span><\/p>\n
However, Cardano (ADA) remains trapped in a possible multi-week bear market. According to our latest crypto market data, ADA price is trading down 84 percent in the past year. Additionally, the 8th largest digital asset by crypto market capitalization has dropped 24 and 11 percent in the past 30 and 7 days, respectively.<\/span><\/p>\n
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4\/Cardano activity is growing:
\u2013 NFT volume hit 3.0m and 2.8m ADA on 17\/18th Oct, solidifying Cardano as the 3rd largest NFT protocol @opencnft<\/a><\/p>\n\u2013 Network transactions on 19th Oct hit 97,959, up ~+75% MoM @cardanoscanio<\/a> <\/p>\n
\u2013 @MinswapDEX<\/a> volume highest in half a year at 3m+ daily pic.twitter.com\/KSL9x2Qu8i<\/a><\/p>\n
\u2014 ADA whale (@cardano_whale) October 19, 2022<\/a><\/p>\n<\/blockquote>\n
The Cardano ecosystem has a rich set of DeFi developers, investors, community, and online presence. However, most projects are yet to go full-blown per their custom capabilities.\u00a0<\/span><\/p>\n
According to market data provided by DefiLlama, the Cardano network has a Total Value Locked of $11.68 million, whereby SundaeSwap, ADAX Pro, and MeawSwapFi lead with $10.9 M, $751k, and $35k, respectively.<\/span><\/p>\n
Cardano Network Close Up<\/h3>\n
The Cardano network has shown its resilience by surviving this long, following the 2021 bull market and the 2022 bear market. As a result, some crypto analysts think the network is destined for more gains in the coming years, particularly in the NFT market and the fast-growing Play-to-Earn industry.<\/span><\/p>\n
\u201cThe NFT volume on Cardano is amazing. But wait for the DeFi stats, when the real behemoths of DeFi protocols go live on Cardano. This winter may be bad for the markets, but I have a feeling that this winter we will see the rise of DeFi in Cardano,\u201d Sooraj, an analyst at Orbis, noted.<\/span><\/p>\n
Related<\/strong>: NFT Traders run from Solana to Cardano due to network advantages<\/a><\/p>\n
Consequently, the Cardano market cap has remained significant despite the sustained months-long bear market. At reporting time, Cardano enjoyed a market capitalization of $11,780,799,386, with a 24-hour trading volume of approximately $504,830,703.<\/span><\/p>\n
- The Cardano network has a Total Value Locked of $11.68 million, whereby SundaeSwap, ADAX Pro, and MeawSwapFi lead with $10.9 M, $751k, and $35k, respectively.<\/b><\/li>\n<\/ul>\n