Hydra Update Boosts Cardano’s DeFi TVL, Reflecting Growing Influence
The network’s TVL has seen a rise of almost 20% compared to July 6.
The announcement that Hydra would allow “God mode” on the network was made on X.
A recent update to Hydra has caused the Total Value Locked (TVL) of Cardano Decentralized Finance (DeFi) to rise. According to DeFiLlama’s data, the Cardano DeFi TVL has reached $243.17M. In little over two weeks, the network has seen a rise of almost 20% compared to July 6.
With a market valuation of $15.88 million and a 24-hour trading volume of $267.3 million, stablecoins in the Cardano ecosystem are rather active. This strongly suggests that Cardano is actively present in the market. It is a reflection of the network’s increasing clout in the DeFi environment.
