Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. Meld has seen its TVL jump by 27% in the past 30 days. As such, Meld will be able to support other chains like Ethereum and Cosmos. Multichain is a bridging solution that lets users bridge via pegged assets. This week, Meld announced its partnership with Multichain, the blockchain that was formerly known as Anyswap. Analysts believe that Meld could see increased inflows in 2023 as its popularity grows. It is a rival to other lending protocols like Aave, Tectonic, and Compound. Meld is currently the second-biggest DeFi platform in Cardano with a TVL of over $12 million. Will Meld save ADA?Ĭardano supporters cite Meld as a possible future catalyst for ADA. Cardano is still the fifth-biggest NFT chain having processed over $429 million on history. Therefore, if this trend continues, we will see the second consecutive month of decline. This month, Cardano has processed just $4.9 million worth of NFTs. According to CryptoSlam, the volume of Cardano NFTs crashed from more than $23 million in October to $8.9 million. Meanwhile, Cardano’s NFT volume has also dropped. MinSwap has the biggest market share in its industry. A closer look at its DeFi ecosystem shows that the total value locked has crashed from more than $400 million to about $65 million. Besides, the company lost its auditor last weekend when Mazars stopped its work for cryptocurrencies.ĪDA price has also dropped because of the ongoing challenges in its ecosystem.

While most of these investors have sold their coins, others have simply moved theirs to self custody fearing that the company will implode soon. Data published by DeFi Llama shows that investors have pulled over $11 billion in assets from Binance in the past 30 days. Cardano ecosystem challengesĬardano, like other blockchain coins, has had a tough time as investors lose confidence in the industry. As a result, Cardano investors have suffered as its total market cap plunged from over $90 billion to about $8 billion. ADA plunged to a low of $0.25, which was substantially lower than its all-time high of $3. Cardano price continued its freefall as demand for ADA and other crypto tokens evaporated.

Meld price prediction