This move comes as Cardano overtakes Bitcoin in terms of total value locked (TVL), according to data from DeFiLlama
Cardano’s decentralized finance (DeFi) landscape is expanding with the integration of VyFinance DEX protocol into the MuesliSwap DEX Aggregator.
The news, announced via MuesliSwap’s Twitter account on Saturday, signals a new development in Cardano’s continuous effort to increase its presence in the DeFi sector.
The integration promises limitless trading on the Cardano network, potentially offering a more diverse array of financial products.
Cardano outpaces Bitcoin in total value locked (TVL)
Interestingly, in a recent development, Cardano has also managed to surpass Bitcoin in terms of total value locked (TVL), according to data from DeFiLlama, a crypto market data aggregator.
The data shows that Cardano, with a TVL of $183.19 million, now stands in 15th place, outpacing Bitcoin which has a TVL of $178.99 million.
The growth in TVL reflects a marked increase in the number of active users and protocols on the Cardano network.
According to DeFiLlama, Cardano’s active users have grown by 2.69% in the last day, 9.37% in the last week, and a substantial 20% over the past month. These statistics underscore the growing interest and trust in Cardano’s DeFi ecosystem.