Cardano DeFi is having a bull run within a bull run! ADA will be unstoppable in the coming bull run!
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Let's go back to '21, no smart contracts, no DeFi, no DEXes… ADA at 3$. The smart contracts era came to Cardano in September '21. Fast forward now, in just 2 years the Cardano DeFi is booming and it's been booming throughout the bear market times as it can be seen on this defillama chart. No other major blockchain (ETH, SOL) witnessed a TVL growth in the native currency during the bear market like Cardano did. For the first time ever, Cardano just entered the top 10 chains by TVL in $ as it can be seen on this defillama chart. Note that Cardano has no USDC or USDT options like other chains so to be in the top ten is incredible achievement. It has 2 stablecoin options which are still limited though: DJED (overcollateralized algorithmic stablecoin) and iUSD (synthetic dolar asset). Most tokens on Cardano DEXes are still priced vs. ADA. Cardano had its own memecoin mania called $SNEK back in May '23 during the deep winter of the bear, look at the volume then. The mania with Cardano native tokens started again in December and the daily volume on DEXes is exploding as it can be seen via taptools.io data. Besides the memecoin $SNEK , the gaming tokens on Cardano will be the next big thing during the next cycle like DEADPXLZ's $DING, Clay Nation's $CLAY, $COPI and many others. $LENFI, $LQ, $INDY are lending and borrowing protocols +- similar to AAVE or Compound… This time Cardano has a thriving ecosystem with multiple lending/borrowing protocols, synthetics, limited stablecoin options, synthetics, DEXes and aggregators, NFTs, gaming projects play using the magic of Cardano's unique eUTXO system where people new project are popping up and people are just coming up with new crazy ideas to literally bring the enterprise grade trading experience (check out axo.trade for example). So, if you're wondering why is ADA price going up, it's because Cardano is ready for the bulls this time and it will probably be one of if not the best performing major crypto asset this coming bull run! submitted by /u/cascading_disruption |
