Every week, there are new updates and developments in the Cardano ecosystem. Therefore, Altcoin Buzz covers the updates and developments from the second week in March to keep readers informed.
Last week, Cardano-supported projects announced an interesting partnership. We also cover some performance indicators on the ecosystem.
1 – Cardano-Based Projects Announce Partnership
Cardano’s decentralized stablecoin ecosystem, Ardana, has entered a partnership with Optim Finance, a Cardano yield aggregation/asset management platform. Optim Finance plans to leverage Ardana services to provide capital-efficient and enhanced revenue options for users.
Notably, this partnership will improve decentralized finance on Cardano.
What do #Ardana & Optim have in common? Both strive to make #CardanoDeFi better every single day. 💫
📢 Ardana is thrilled to announce a partnership w/ @OptimFi, a leader in the #Cardano yield aggregation/asset management space. 🎊 pic.twitter.com/6IWNDtkdGX
— Ardana – DeFi Hub of Cardano (@ArdanaProject) March 9, 2022
2 – Cardano Ecosystem TVL (Total Value Locked) Proportion
During the week, DeFi Llama revealed that the Cardano ecosystem has a TVL (Total Value Locked) of $285.56 million. Based on the report:
- SundaeSwap has the most TVL on the Cardano ecosystem with 39.44% of the total TVL. This is equivalent to $112.7 million.
- Minswap holds the second-most TVL on Cardano with 30.7% of the total TVL, which is equivalent to $87.72 million.
- Meld has the third-most TVL on Cardano with 23.44% of the total TVL, which is equivalent to $66.98 million.
- MuesliSwap is fourth in terms of TVL on the Cardano ecosystem. It holds 4.4% of the total TVL, which is equivalent to $12.57 million.
- VyFinance follows next with 1.94% of the total TVL, which is equivalent to $5.57 million.
- Lastly, ADAX Pro features 0.08% of the total TVL, which is equivalent to $13.93k.
CARDANO TOTAL VALUE LOCKED ‼️
The @Cardano TVL keeps increasing day by day 🚀@SundaeSwap is leading 💪#Cardano #ADA $ADA $SUNDAE $MELD @MinswapDEX @MELD_labs @VyFiOfficial @MuesliSwapTeam @adax_pro pic.twitter.com/4XCLE42rgj
— Cardano Daily (@cardano_daily) March 16, 2022
3 – Top Gainers in the Cardano Ecosystem
We also received a CoinGecko report that reveals the top gaining tokens on the ecosystem for March 16th:
- GeroWallet ($GERO) enjoyed the most gain on the day with a 4.7% increase in price performance.
- Ardana ($DANA) follows closely with a 4.4% rate of increase in price performance.
- Matrix Labs ($MATRIX) also recorded a 3.8% rate of increase in price performance.
- Charli3 ($C3) recorded a 3.4% rate of increase in price performance.
- Orion Protocol ($ORN) makes up the top five with a 2.3% rate of increase in price performance.
Top Gainers in @CardanoStiftung Ecosystem Last 24H$GERO @GeroWallet $DANA @ardanaproject $MATRIX @matrixswap
$C3 @Oraclecharli3 $ORN @orion_protocol $RDT @ridotto_io $CW @CardWallet_fi $VENT @VentFinance $CARDS @CardStarter $ADA @CardanoStiftung #ADA #CARDANO pic.twitter.com/IvZ18xMr1c— Cardano Daily (@cardano_daily) March 16, 2022
4 – Cardano Projects by Trading Volume
Additionally, we will cover the performance of Cardano-based projects based on their trading volume within a seven-day time frame. Based on the CoinMarketCap report:
- Cardano ($ADA) holds the most trading volume. It recorded $7.06 billion in trading volume within the last seven days.
- API3 DAO ($API3) is in the second spot, recording $344.84 million in trading volume within the last seven days.
- COTI Network ($COTI) is in the third spot. It recorded $242.7 million in trading volume within the last seven days.
- Ergo ($ERG) is in the fourth spot, recording $210.08 million in trading volume within the last seven days.
Top Cardado Projects with Highest Volume in the Last 7 Days$ADA @cardano
$API3 @API3DAO$COTI @COTInetwork$ERG @ergoplatformorg$WMT @wmtoken$ADAX @adax_pro$DANA @ArdanaProject$OCC @OccamFi$CARDS @CardStarter$GERO @GeroWallet#ADA #CARDANO pic.twitter.com/GEniF1sDLB— Cardano Daily (@cardano_daily) March 15, 2022
$ADA Price Outlook
As of the time of publication, Cardano’s price was $0.849224 with a 24-hour trading volume of $944,653,849. ADA price also rose by 4.6% over the last 24 hours. Besides, it has a circulating supply of 32 billion ADA coins and a total supply of 45 billion.
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