Cardano TVL reaches $127 million in February after the release of DeFi products on the network
The majority of funds on the network is concentrated on the SundaeSwap decentralized platform, with $115 million currently locked. Second place is being held by MuesliSwap decentralized finance platform with $2 million locked.
In comparison to networks like Ethereum or even Polkadot, Cardano's ecosystem seems less diverse as almost 100% of the TVL is concentrated in a platform backed by network developers. For example, first place TVL-vise on the Ethereum network is held by Terra with $20 billion locked, which is less than 20% of the TVL.With the increased usage of the network and a slight rebound on the crypto market, ADA was able to bounce from the local bottom and even reach the $1 resistance point.
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