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Cardano pools register $1.4 billion ADA staking inflows in just 12 hours

Altcoins

finbold.com 22 March 2022 14:12, UTC
  
Reading time: ~2 m

Cardano (ADA) has experienced a significant increase in the amount of ADA that has been deposited into its staking pools in only 12 hours on March 22.

Indeed, the large quantity of Cardano that inflowed into the 23 newly created staking pools was roughly around the figure of 1.5 billion ADA which equates to about $1.4 billion, at the time of publication, according to data from Cardano staking pool analytics platform pool.pm.

Noteworthy is that each pool has a stake of 62 million ADC, and the percentage of ADC coins that have been staked is over 73%, which is an impressive showing in the context of DeFi development.

“23 new #Cardano pools with more than 62M₳ stake each have been created during the last 12 hours, increasing by about 1.5 billion $ADA the total staked, now close to 74%,” tweeted poo.pm.

ADA added over $100 million to its Total Value Locked in less than a week as the TVL stood at $200.46 million as of March 16.

Furthermore, the TVL for Cardano has been steadily increasing since late January 2022, after a lengthy period of decline and coinciding with the introduction of SundaeSwap (SUNDAE), the blockchain’s first decentralized exchange (DEX).

Cardano price analysis

Currently, Cardano is trading at $0.9587 up 6.33% in the last 24 hours and 20.86% across the previous week, as per CoinMarketCap statistics.

The total market cap of ADA currently stands at $32.3, an influx of almost $6 billion in seven days as investors begin to buy Cardano.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.


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