Cardano Ecosystem's Total Value Locked Surges Past $440 Million

According to Foresight News, the total value locked (TVL) in the Cardano ecosystem has experienced rapid growth over the past few weeks, surpassing $440 million and exceeding its peak of $330 million in April. Most of the growth occurred in the past week, with the TVL of lending protocol Indigo and on-chain exchange Minswap soaring by over 50% to nearly $100 million. The supply of the USD-pegged stablecoin Djed (DJED) increased by more than 45% in the past week. The TVL on LendFi and Spectrum Finance surged by 90%. This on-chain growth has driven up the price of ADA tokens. Data shows that the token's price has surged by about 17% in the past 24 hours, expanding its monthly gains to nearly 80%.