Cardano (ADA), Deposits Seem Hugely Changed; Genesis Impact To Worsen
Cardano (ADA), News Updates: While Digital Currency Group (DCG), is making headlines for its exposure to FTX (FedEx), several cryptocurrencies are experiencing major changes. Most cryptocurrencies, including Cardano (ADA), have been following a downward trend over the past two weeks. As fears about the Genesis bankruptcy increase, deposits to decentralized protocols are rising. It remains to see if the market situation would worsen if the FTX-related contagion spreads.
According to data from DefiLlama Cardano total value locked, (TVL), has increased significantly in recent months. The TVL increased by more than 5% in the last 24 hours to $53.61million. Total value locked refers to the total value of assets that have been stacked in DeFi protocols.
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