Cardano is one of the most prominent proof of stake (POS) blockchains that requires users to stake their native tokens, ADA, to confirm and secure transactions on the network. Over time, the network has held the record for the largest percentage of its token supply staked. And once again, the blockchain has solidified its position in this regard as it reaches a new high for the total amount of ADA staked in decentralized finance (DeFi) protocols. Cardano Token TVL Reaches New All-Time High Back in September 2021, Cardano saw the completion of the Alonzo hard fork upgrade, an update that brought smart contracts capability to the network. What this meant was that developers could now build decentralized applications (DApps) on the blockchain, finally bringing the decentralized finance (DeFi) sector to Cardano. Related Reading: Ethereum Eyes $2,000 As Crypto Market Shakes Off SEC Woes Since then, there has been a steady rise in the number of DeFi protocols being built on the blockchain. And as developers have flocked to the network, investors have followed suit, leading to a ..
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