Cardano DeFi TVL Resurges, New ATH, Volume Spike, and More

Cardano is finally showing signs of recovery as it outperforms major chains and achieves new milestones.

Girl jumping in the air with a glowing Cardano TV.
Created by Kornelija Poderskytė from DailyCoin
  • Cardano’s DeFi ecosystem remains unfazed by the chaos that regulators ensued in the crypto industry
  • Cardano’s DeFi TVL made a remarkable surge, outperforming major chains
  • With Cardano’s ADA eyeing a breakout, Cardano’s DeFi TVL could achieve new heights. 

On June 6, the SEC rocked the crypto markets by suing two of the world’s leading crypto exchanges, Binance and Coinbase, classifying several crypto assets as unregistered securities, including Cardano’s ADA. Following the regulator’s accusations, Cardano’s DeFi ecosystem tanked, shedding over $50 million, and has been struggling to find solid footing since. 


However, weeks later, Cardano finally shows signs of recovery as it outperforms major chains and achieves new milestones. 

Slow and Steady Wins the Race

Despite the initial setback caused by the SEC, the Cardano DeFi ecosystem has demonstrated remarkable resilience and steadily gained momentum. Active users on the network remained steadfast, even spiking to levels last seen in February in the wake of the unprecedented regulatory pressure. 

DeFi Llama chart of Cardano Defi TVL.
Cardano DeFi TVL 2023. Source: DeFiLlama

In contrast, other major chains like Ethereum, Solana, and Avalanche have been experiencing an extended decline in this metric. Cardano’s unwavering strength has resulted in a remarkable surge in its DeFi TVL, which recently soared by 17% to reach $157 million. This was accompanied by an impressive daily trading volume of $6.5 million at press time, according to DeFiLlama

Cardano DeFi TVL in contrast to other chains.
Cardano DeFi TVL in contrast to other chains. Source: Cardano Feed

Notably, Cardano’s DeFi TVL, in terms of ADA, also achieved a new all-time high, surpassing 534.8 million ADA on June 25. This milestone cements Cardano as one of the fastest-growing networks in terms of its native currency, outclassing even significant chains like Ethereum, Solana, and Polygon

Cardano’s recent recovery can be attributed to ADA’s remarkable surge in the past week, fueled by rising interest from TradFi in the crypto industry. This surge sparked an exciting rally and fostered a wave of optimism among investors, helping Cardano briefly reclaim the crucial $0.3 level and flip market sentiment from mostly bearish to primarily bullish. 


Although Cardano exchanged hands for $0.287 at press time, 30% below its June peak of $0.381, the token appears to be on a positive trajectory. Investors expect ADA to break out into the $0.4 and $0.5 range, potentially resulting in a TVL of $267 million. This would help Cardano DeFi surpass Solana’s current TVL of $252 million. 

On the Flipside

  • Cardano’s DeFi ecosystem comprises 20 DeFi protocols. 
  • If ADA reached its all-time high of $3.1, Cardano’s DeFi TVL would amount to an impressive $1.6 billion.

Why This Matters

Cardano’s DeFi has been showing remarkable strength despite the fear and uncertainty in crypto markets following the SEC’s crypto crackdown. Recent developments suggest the network’s DeFi ecosystem will persevere despite major capitulation events and negative news. 

Another TradFi giant shows interest in Crypto ETFs:

ETF Influx Inspires HSBC Crypto ETF Offering in Hong Kong

Follow up on Cardano developments: 

DailyCoin Cardano Regular: Bullish Trends, Optimistic Investors, New Protocols, and Price Bump 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Insha Zia

Insha Zia is a senior journalist at DailyCoin covering crypto developments, especially in the Cardano ecosystem. With a Bachelor of Science in Computer Systems Engineering, he delivers high-quality articles with his technical background and expertise in data analysis and programming languages, aiming to educate and inform readers accurately, transparently, and engagingly. Insha believes education can drive mass adoption of the crypto space, and he is committed to giving DailyCoin readers a better understanding of the technology.