According to CryptoPotato, the fourth quarter report of 2023 released by Messari shows that Cardano has made significant progress in various indicators. The report stated that Cardano’s total locked value (TVL) increased by 166% month-on-month and 693% year-on-year, and its ranking on DefiLlama rose from 34th to 14th. Overall, Cardano’s DeFi ecosystem has grown steadily, with a total of 33 protocols and a cumulative TVL of over $330 million. The report also highlights Cardano’s recent developments in ensuring network stability, delivering scalability and high throughput, especially with the introduction of Hydra, a family of extended protocols. In addition, core infrastructure projects such as SanchoNet and Mithril have made further progress in development and testing, laying the foundation for future innovation and scalability of the network. According to Messari data, ADA grew 127.2% in the fourth quarter, becoming the fastest growing asset at the end of 2023. Additionally, Cardano’s average daily transaction volume and daily active addresses have shown a steady upward trend, reflecting increased user activity within the ecosystem. As of press time, ADA is trading at $0.6, with trading volume rising significantly to $740 million, an increase of 33.25% in 24 hours.

#DeFi #Cardano