- Cardano’s TVL grows by 20% per month, reaching 358 million ADA.
- ADA whale said ignoring Cardano’s DeFi potential is reckless.
- Cardano blockchain has recently launched a dynamic P2P network.
Cardano whale, a well-known crypto influencer on Twitter, recently highlighted the growth potential of the Cardano blockchain in the decentralized finance (DeFi) space.
According to the tweets, Cardano’s total value locked (TVL) has been growing at a rate of 20% per month, reaching 358 million ADA (Cardano’s native token) this year. The influencer noted that if the trend continues, Cardano could hit one billion ADA TVL in a year, equivalent to $3 billion when ADA returns to its all-time high.
The Twitter user added that ignoring Cardano’s DeFi potential at this development point was reckless and juvenile.
Notably, the highlighted growth potential of Cardano does not include the launch of several new Cardano-based DeFi projects, such as Axo Trade, Genius Yield, TeddySwap, Yam Finance, Spectrum Labs, and the new Liqwid Finance.
The crypto influencer believes Cardano will become one among the top-five DeFi ecosystem during the next bull run with a massive community behind it. The author also mentions that while the volume remains low, outside money is entering the market, as indicated by the charts of MinswapDEX, a decentralized exchange built on Cardano.
In other news, dynamic peer-to-peer (P2P) networking on the Cardano blockchain is now live with the release of node v.1.35.6. According to the official note, network participants can now test automatic node communication without a need for static configurations. Additionally, Dynamic P2P enables enhanced communication between distributed nodes and simplifies the process of running a relay or a block-producing node by automating the peer selection process.