Cardano’s ADA Token Trading Volume Surges Amid Trump Reserve Mention
Trading volumes for Cardano's ADA token have surged, averaging $720 million daily in February and exceeding $1.4 billion in March. This increase follows a mention by U.S. President Donald Trump regarding ADA's inclusion in the nation's strategic crypto reserve.
Adoption Metrics
- ADA market cap stands at $25.6 billion.
- Cardano blockchain has over 5 million unique wallets and 1.3 million delegators.
- Total value locked (TVL) is $329 million.
- Focus on non-financial applications includes decentralized ID minting and document tracking.
- Cardano partnered with Veritree to plant 1 million mangrove trees in Kenya.
- Collaboration with SERPRO aims to enhance blockchain adoption in Brazil.
Cardano differentiates itself from competitors like Solana by prioritizing real-world use cases over TVL metrics. While Solana's TVL grew from $2.2 billion to over $10 billion, Cardano's increased from $445 million to $537 million.
DeFi on Cardano
- Minswap, Cardano's DEX, recorded a cumulative trading volume of $3.4 billion.
- Lending protocols such as Liqwid and Lenfi contribute to a lending sector TVL exceeding $116 million.
- The focus remains on maintaining non-financial transactions at 50% of total activity.
Governance Dynamics
Cardano is managed by three entities: the Cardano Foundation, IOG, and Emurgo. Tensions exist between the commercial interests of IOG and Emurgo and the non-profit ethos of the Foundation. Recent community discussions have highlighted these frictions.
Gregaard emphasized collaboration while managing the Foundation's role in regulatory interactions, including negotiations with the European Parliament on MICA compliance.