2023-06-01
The volume of EDX on the Cardano network has
significantly increased due to the influx of meme coin trading, as analyzed by
DeFilama.
The volume on Minswap, a popular DEX on the Cardano
platform, has increased by 82.28% in the past week. When
it comes to the current TVL rankings, Cardano stands at 16th
place, with Minswap experiencing a growth of 12.28% week
over week. The monthly change stands at 28.05%, with a TVL
of approximately $64.95 million.
Regarding other DeFi protocols on Cardano, such as
Indigo and WingRiders, they also show growth, although at a slower pace. Their
TVLs are $33.99 million and $14.97
million, respectively.
However, despite the impressive growth in DEX volume,
the overall TVL of Cardano still lags behind other blockchains like Ethereum,
Tron, and Binance Smart Chain (BSC), which hold the top three positions.
Ethereum remains the leader with a TVL of $27.34 billion,
followed by Tron and BSC with $5.61 billion and $4.41 billion, respectively.
