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Increasing decentralized finance (DeFi) activity on Cardano has pushed the total value of assets locked on the network to the highest point this year.



According to DeFillama data, Cardano’s Total Value Locked (TVL) sits at $180 million – the highest since May 2022, when it was $201 million.



ADA Token TVL Surges



In terms of the ADA token, Cardano’s DeFi ecosystem also reached an all-time high of 463 million ADA on May 31. On May 20, BeInCrypto reported that the TVL had crossed the 400 million tokens milestone.



Cardano DeFi TVL (Source; DeFillama)



DeFi activities on Cardano saw consistent growth from the start of the year when the TVL was just around $50 million. Since then, the network has seen increased interest, suggesting that its DeFi ecosystem was thriving.



Cardano DEX Volume Increasing



The increasing TVL has also coincided with a rising DEX volume, according to DeFillama data. Cardano recorded its highest weekly transactions volume during the last three weeks of May when it rose to $98.26 million from $41 million.



Cardano DEX Volume (Source: DeFillama)



This trend continued into June, with the current 7-day transaction volume at $127.1 million. DeFillama data showed that the first two days of this month have already seen $35.28 million.



Top Protocols Responsible for The Growth



MinSwap is the largest Cardano DeFi protocol with a TVL of $65.87 million. The DEX’s weekly volumes have ascended since last year and reached an ATH of over $72 million last week, thanks to the community interest in meme coin SNEK. 



Besides its TVL, MinSwap has 17.53k UAWs (unique active wallets) which has grown by 33.5% in the last seven days.



Cardano Top 10 Protocols (Source: DeFillama)



The collateralized debt protocol, Indigo, saw its TVL grow by 15.95% in the last seven days. It has seen a 6x increase in TVL since launch, and volume puts it on the list of top 11 CDP protocols across all chains.



Meanwhile, the Liqwid protocol has also seen a 7-Day increase of 8.92% in its TVL. The lending protocol has a TVL of $13.38 million. Cardano’s first stablecoin Djed has $14.28 million locked in TVL.



With the rise in TVL, ADA is up 3.3% in the last seven days and is trading at $0.376, according to BeInCrypto data.



        
          
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The post Cardano (ADA) DeFi Activities Drive TVL to Yearly High appeared first on BeInCrypto.


Cardano's DeFi activity has seen the network TVL rise to the highest point this year amid a surging DEX volume.
The post Cardano (ADA) DeFi Activities Drive TVL to Yearly High appeared first on BeInCrypto.


beincrypto.com

Cardano (ADA) DeFi Activities Drive TVL to Yearly High

Four days ago, on May 31, 2023, the cross-chain protocol Multichain announced on Twitter that the team has been unable to locate the firm’s CEO. As a result, controls to several blockchain network routers have been impaired. The project’s native token, MULTI, has experienced a 1% decline in the last 24 hours and a decrease of over 50% in the past two weeks.
Multichain Protocol Struggles as CEO Disappears
This week, the cryptocurrency community has been discussing the Multichain Cross-Chain Router Protocol after the team revealed its founder has gone missing. Multichain’s bridge technology allows users to transfer assets between different blockchain networks. As of the time of writing, the decentralized finance (defi) platform holds $1.45 billion in value.
“In the past two days, the Multichain protocol has experienced multiple issues due to unforeseeable circumstances,” the team disclosed on Wednesday. “The team has done everything possible to maintain the protocol running, but we are currently unable to contact CEO Zhaojun and obtain the necessary server access for maintenance.”
Multichain has revealed that its router technology experienced issues, leading to disruptions in the regular cross-chain service of select chains. According to the tweet from Multichain, the absence of Zhaojun has resulted in a lack of specific controls, making it challenging to address the problem adequately. The team further specified that Kekchain, Publicmint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora, and Planq were among the affected chains.
There have been rumors that founding Multichain team members may have been arrested in China. Moreover, people have been discussing how the issue may be a problem for a large fraction of value locked in Multichain from much larger blockchain protocols like the Binance Smart Chain (BSC), Ethereum, and Polygon. The blockchain Fantom holds the largest exposure to Multichain, followed by BSC, Optimism, and Kava.

The Fantom Foundation has emphasized that the absence of Multichain’s CEOs has “no impact on Fantom’s assets and bridging.” Despite Multichain’s initial tweet, there have been no subsequent updates regarding Zhaojun’s whereabouts. Following this incident, MULTI, the project’s native token, has witnessed a significant drop in value and experienced a decrease of over 50% over the course of the past two weeks.
Will Multichain’s cross-chain protocol recover from the CEO’s mysterious disappearance? Share your thoughts and opinions about this subject in the comments section below.


Four days ago, on May 31, 2023, the cross-chain protocol Multichain announced on Twitter that the team has been unable to locate the firm&#8217;s CEO. As a result, controls to several blockchain network routers have been impaired. The project&#8217;s native token, MULTI, has experienced a 1% decl...

news.bitcoin.com

Mysterious Disappearance of Multichain CEO Sends Shockwaves Through Crypto Community

Tron rose to a one-year high to start the weekend, as founder Justin Sun confirmed an integration to the ethereum blockchain network. In a tweet, Sun said, “TRON has now expanded its reach by going live on the Ethereum blockchain by leveraging the BitTorrent bridge.” 
Tron (TRX)
Tron (TRX) was one the biggest movers on Saturday, with prices rising by as much as 11% in today’s session.
Following a low of $0.0762 on Friday, TRX/USD raced to an intraday peak of $0.08545 earlier in today’s session.
As a result of the surge, the token, which recently registered a record number of daily transactions, hit its highest point since June 2 last year.

Overall, tron is up 12.16% in the last seven days, with the latest rally leading to a breakout of a ceiling at $0.0796
The relative strength index (RSI) also moved above a resistance level of its own at 70.00, and is now tracking at 75.77.
Should this uptrend continue, there is a good chance that bulls will attempt to take the index to a higher ceiling at 79.00.

XRP
XRP, formerly ripple, hit a multi-week high to start the weekend, colliding with a key price ceiling in the process.
XRP/USD surged to a high of $0.5299 earlier on Saturday, which comes following yesterday’s low of $0.5137.
This move led to the token nearing a collision with a resistance level at $0.5300, securing its highest point since April 19 in the process.

Following this, prices have since slipped, with earlier bulls seemingly opting to secure gains.
At the time of writing, XRP is trading at $0.5234, and this comes as the RSI falls below its own ceiling at 69.00.
Price strength is now at 67.71, with the next visible floor at the 64.00 mark.
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What impact will tron’s integration on the ethereum blockchain have on the market? Let us know your thoughts in the comments.




Tron rose to a one-year high to start the weekend, as founder Justin Sun confirmed an integration to the ethereum blockchain network. In a tweet, Sun said, &#x201C;TRON has now expanded its reach by going live on the Ethereum blockchain by leveraging the BitTorrent bridge.&#x201D; Tron (TRX) Tron...

Biggest Movers: TRX Hits 1-Year High, Following Integration on Ethereum Network

Quant (QNT), an Ethereum-based token, has experienced a 15.15% increase in its price over the past seven days. QNT plays a vital role in Quant Network’s Overledger, a suite of enterprise software solutions designed to connect public blockchains and private networks seamlessly. By enabling the creation of multi-chain decentralized applications (mDapps), Quant Network empowers developers to build and operate applications that span across multiple blockchains simultaneously.
With its focus on interoperability, Quant Network’s Overledger solution provides a framework for bridging different blockchain networks, fostering connectivity and facilitating efficient data exchange between disparate systems. The use of QNT within the Overledger ecosystem not only powers these interoperability capabilities but also plays a crucial role in securing and incentivizing participants within the network.

As the price of Quant (QNT) continues its upward trajectory, the growing interest in the token reflects the recognition of its importance in enabling the seamless operation of mDapps and facilitating cross-chain communication. With Quant Network’s innovative approach to interoperability, the future holds promising possibilities for enhanced collaboration and integration across various blockchain platforms.
Related Reading: Injective Protocol (INJ) Tallies 23% Price Surge In Past 7 Days – Here’s Why
Why’s There A Strong Bullish Sentiment For QNT? 
The recent price surge of Quant (QNT) can be attributed to the transformative power of distributed ledger technology (DLT) and the unique features offered by the Quant platform. DLT, surpassing the limitations of traditional blockchain, provides solutions to unanswered questions, enabling secure and cost-effective asset exchange while driving value, opening new markets, and increasing efficiency for enterprises, governments, and individuals worldwide.

Founded in 2015 by Gilbert Verdian, Quant emerged as a pioneer in harnessing the potential of DLT to empower and expedite people’s lives. As the genesis of Quant, DLT addresses scalability issues by ensuring faster and more affordable transactions, offering a promising alternative to traditional blockchain networks.
The unique utility of Quant (QNT) makes it a very interesting project. And, since utility is one of the major factors that affect the growth of a crypto project, it’s no surprise that investors are turning toward QNT.
What’s Next For Quant?
Quant has caught the attention of investors with its impressive market capitalization of $1,408,329,718 and a notable trading volume of $25,330,831. While it may have been considered the slowest in terms of price movement, Quant has consistently demonstrated growth in the cryptocurrency market. 
Related Reading: Floki Inu Gains Momentum As Chinese E-Commerce Giant Recognizes Its Utility
The optimistic founders of Quant believe that as a leader in the industry, the mass adoption of Quant holds great promise for its supporters. Currently priced at $116, there is anticipation for Quant’s value to soar even higher in response to the increasing demand projected in the future. Based on bullish scenarios and analysis of historical data, the price of Quant is expected to experience a significant rise.
-Featured image from iStock.com, charts from TradingView


Quant (QNT), an Ethereum-based token, has experienced a 15.15% increase in its price over the past seven days. QNT plays a vital role in Quant Network&#8217;s Overledger, a suite of enterprise software solutions designed to connect public blockchains and private networks seamlessly. By enabling t...

newsbtc.com

Quant Hype Spikes As Price Surges 15% – Is This A Top Signal?

In the first four months of 2023, the net crypto ATMs worldwide declined by 5,850. In May, however, 1,397 machines were added back to the global crypto ATM network.

Mask Network price	$4.46
Low - High 24H	$4.43 - $4.54
Market cap	$366.21M
Volume 24H	$34.48M
All time high	$41.45 -89.25% February 24th 2021
All time low	$0.976528 356.43% October 13th 2022
Genesis date	N/A

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