Cardano DeFi Holdings Fall Below $50 Million as Dollar Value Slides

Cardano’s decentralized finance holdings fell below $50 million on Nov. 9, extending their dollar decline since Oct. 20 without showing whether users withdrew Cardano (ADA) tokens from DeFi protocols. The tracked total stood at $48.9 million, down 3.62% over 24 hours. An Oct. 20 snapshot of Cardano’s DeFi holdings recorded $61.34 million. The Nov. 9 figure was about 20% lower than that earlier dollar reading. Total value locked, or TVL, measures the market value of assets deposited in DeFi protocols. Those assets include tokens other than ADA, and ordinary network staking is excluded from Cardano’s DeFi TVL. A change in the dollar total can reflect token prices as well as deposits and withdrawals. The two snapshots therefore do not establish whether users withdrew ADA or, if they did, how much.

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