Cardano's DeFi Industry Might Grow Substantially in 2023, Here's How

Jan 04,2023
Cardano's DeFi Industry Might Grow Substantially in 2023, Here's How

Cardano's decentralized accounting is not the most powerful part of the ecosystem, because he only offered a convenient decentralized solution in the second half of last year. These trends are related to the basic technology of online bookkeeping. But the situation is likely to change dramatically in 2023.

The current TVL of the network is 50 million yuan, much smaller than the ATH realized in 2022, when the total value of assets in the network was maintained at 350 million US dollars. Given the lack of diversity of blockchain technology solutions in Cardano's ecosystem, such a high number of data is surprising.

In the new year, the Cardano network will publish a set of optimized algorithms for smooth coding, which will generate more value for the network than decentralized trading centers or production agriculture and animal husbandry service platforms, considering the convenience they bring to the network and DeFis.

As the sales market recovers in 2023, Cardano's TVL is likely to set a new record, easily beating the relatively small $350 million seen in 2022. By comparison, Solana's TVL raised the $1 billion mark in July 2021 and reached the maximum value of online lock-up funds in November, exceeding the $10 billion mark.

Obviously, locking the total amount of funds at this stage is not easy to lead Cardano to new records as an ecosystem, which is why real estate developers bet a lot of chips on Defi as one of the important and easiest ways to attract new capital into the network.

As of press time, ADA was still dying in the market, and although it was in good shape at the end of 2022 and early 2023, it was still in a long-term decline. The lack of net capital inflows in the cryptocurrency market and the stalemate in Defi and NFT caused ADA to fall in 2022 and will undoubtedly remain an important source of pressure on coins in 2023.