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Cardano outshines the rest but ADA could decide till when…

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While other blockchains such as Ethereum, Solana, and Polygon registered a decline in TVL, Cardano’s network value was on the rise. However, ADA chose to go another way given its recent price correction.

was outperforming the rest of the cryptocurrencies in terms of TVL. As per the tweet, while the rest registered a decline in their network value, Cardano TVL gained upward momentum.

DeFiLlama’s data revealed that after a slight decline on 11 June, the blockchain’s TVL once again started to move northward, which looked promising.A possible reason for the uptick could be the blockchain’s development activity, which has been relatively high. In fact, Cardano recently posted its weekly developmentFor instance, scalability is something that Cardano is working towards. This week, the Hydra team focused on investigating and experimenting with how to operate a head on the mainnet.

Apart from that, this week in Voltaire, conversations continued on CIP-1694 to establish an initial Minimum Viable Governance framework. The report also mentioned updated statistics for the network. Cardano’s total number of transactions exceeded 69 million. The number of native tokens reached 8.44 million, while the number of projects launched on Cardano touched 130.Though the blockchain’s TVL went up, its price chose to follow the other way, as it declined by more than 1% in the last 24 hours. At the time of writing, it was’s open interest registered an increase of late. An increase in the metric generally means that the current price trend can continue longer.

 

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