Cardano, a prominent project in the blockchain space, has seen an impressive 91% increase in decentralized exchange (DEX) volume over the past week.
Cardano, the popular blockchain platform, has seen a dramatic 91% increase in decentralized exchange (DEX) volume over the past week, according to data from DeFiLlama.
Cardano’s DEX volume has reached $68.5 million . This spike was driven by significant activity on Cardano-based DEX platforms, especially Minswap, with a weekly change of 99.72%.
Minswap, the leading DEX on Cardano, accounts for the majority of the platform’s volume, with 24-hour volume of $6.91 million and seven-day volume of $60.52 million. This represents 90.4% of the total DEX volume on Cardano.
Other DEX platforms on Cardano, such as WingRiders and SundaeSwap, also contribute to the overall volume, albeit to a lesser extent.
Despite the impressive growth in DEX volume, Cardano’s total value locked (TVL) remains at 91.27 million, representing just 0.69% of total value across all platforms.
Ethereum continues to dominate DeFi with a TVL of $7.8 billion, or 37.6%. Binance Smart Chain (BSC) and Arbitrum followed with 27.98% and 14.67% , respectively .
The increase in DEX volume coincided with a 4.6% increase in the price of ADA, in the last week. This positive price action and significant growth in DEX volume underscore the growing interest and activity in the Cardano ecosystem.