Cardano's DeFi TVL Sees Significant Increase Following USDCx Launch

Cardano has experienced a surge in its decentralized finance (DeFi) total value locked (TVL), with the network's TVL rising by over 6% in the last 24 hours. According to data from DeFiLlama, Cardano's TVL now stands at $136 million, making it one of the few networks to record gains in this metric during this period.

The top three DeFi protocols on Cardano have also seen significant increases in their TVL, with Minswap leading the way. The decentralized exchange (DEX) has seen a 17% surge in its TVL, reaching $36 million. Liqwid, a lending protocol, has recorded a 4% gain in its TVL, while SundaeSwap's AMM DEX has seen an impressive 77% increase in its TVL.

The launch of the USDCx stablecoin on Cardano is believed to be a key driver of this growth. Circle announced that USDCx is now available on the network, providing access to cross-chain USDC liquidity and allowing users to take advantage of decentralized finance opportunities across multiple chains.