Cardano with losses due to SEC announcement

Cardano (ADA) was hit hard by the SEC's announcement to classify various cryptocurrencies as securities. Like the market as a whole, the Cardano price suffered losses for several weeks. Cardano's DeFi network also experienced a drop in liquidity and lost around USD 50 million during this period.

However, Cardano has not only recovered in the meantime, but its DeFi ecosystem is also performing impressively. The Total Value Locked (TVL), i.e. the capital deposited in DeFi protocols, continues to rise. In fact, Cardano is growing faster than other major DeFi networks such as Ethereum (ETH), Solana (SOL) or Avalanche (AVAX).

Data from DeFiLlama shows a clear upward trend in TVL in Cardano. The value has been rising steadily since February. In February 2023, the TVL amounted to over USD 100 million and in April it exceeded the USD 150 million mark. On June 25, the network reached its highest level with a TVL of USD 183 million

Source of information: coincierge.de