Cardano’s [ADA] TVL growth seems non-negotiable, but can it reclaim $300M

ambcrypto.com:

According to TapTool, Cardano’s [ADA] Total Value Locked (TVL) has no option but to pursue an upward trajectory. The TVL simply represents the number of assets locked or staked in a protocol. And the metric helps to indicate the liquidity impact on DeFi applications based on the assets deposited in respective smart contracts.

— TapTools (@TapTools) April 7, 2023

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Giving reasons for the projection, the wallet profiler and portfolio tracker mentioned that the scalable and eco-friendly solution offered by the project could play a big part. And with a steady increase over the past few months, Cardano could become the fastest-growing ecosystem in the blockchain space. 

Furthermore, the seven-tweet-long thread pointed to the thriving developer community, collaborations, and Cardano’s openness to expanding to other markets as other grounds poised to make the prediction a reality. The thread noted,

“With a focus on financial inclusivity and real-world use cases, Cardano is targeting emerging markets. This opens up a massive growth potential as more users join the ecosystem.”

However, the year-long drop in TVL has raised concerns about whether Cardano can reclaim its ATH, which was once above $300 million. But at press time, DeFi Llama showed that the TVL has been able to gain 26.28% in the last 30 days. This suggests that there had been more unique deposits in the chains under the Cardano protocol.

Source: DeFi Llama

But it is also important to note that