Cardano-Based Decentralized Project Faces 8,000% Increase in Last 7 Days- The Coin Leaks

Cardano-Based Decentralized Project Faces 8,000% Increase in Last 7 Days

The Coin Leaks News: The decentralized trading platform that has high-speed and efficient automated marketplace technology Wingriders is based upon Cardano gained nearly 8000% of its TVL within the last seven days, as per DeFiLIama, a network-tracking company.

Between April 12 between April 12 and April 13, the program earned over $41 million the total amount of money locked into the project. The impressive growth shown on the tracking system isn’t actually dependent on natural demand.

The significant increase was the result of the official launch of the platform. the $500,000 that was left before the listing was most likely owned by those who took part in the closed-testing on the DEX.

Solutions based on cardano that are decentralized

As per reports of the TVL redistribution, there is a rise in the number of projects that are decentralized on Cardano has been increased to 10, demonstrating the significant development of Cardano’s network. A few experts point out that Cardano has about 20 projects that are not yet publically listed or at the current stage of development.

Alongside trading platforms that are decentralized, Cardano is getting ready to launch the first stablecoin-based solutions that are made possible with the Network. In the past, U.Today covered what’s there to Cardano supporters following IOHK published 10 major improvements on the network.

The lengthy post also included agreements with farms that were expected to bring liquidity as well as Staking to decentralized financial platforms. Platforms such as MuesliSwap revealed limit swaps and the introduction of a stablecoin based on Cardano. Djed.

Cardano market performance

Unfortunately, the variety of updates to the network, implementation of new technologies, and the general expansion of the network do not appear to be enough for investors in cryptocurrency since Cardano remains one of the top losers in the market, having suffered an increase of 25% in the past 14 days.

ADA had already lost 70% of the realized worth between the 16th of March and the 1st of April, currently trading at $0.89.

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