Cardano is exhibiting a great deal of growth in its DeFi arm.
With total ADA deposits in smart contracts at its ATH, the protocol’s relevance is re-emphasized.
Cardano (ADA) has been displaying some bearish movements in its price after the United States Securities and Exchange Commission (SEC) listed it as an unregistered security in the lawsuits filed against the industry’s top two exchanges, Binance and Coinbase.
Despite these bearish sentiments, there has been a slight but significant growth in the protocol’s Decentralized Finance (DeFi) ecosystem in relation to its Total Value Locked (TVL). Data from popular DeFi market aggregator DefiLlama confirmed a parabolic growth in Cardano’s ADA deposits in smart contracts.
The aggregator showed that ADA has hit an All-Time High (ATH) in terms of the total tokens locked on its associated Decentralized Applications (DApps). While as of Monday, July 3rd, the total ADA locked on Cardano smart contracts was pegged at 557.62 million, at t

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