Cardano TVL Drops this June, While Bitgert TVL Soars High

Cardano
Cardano

Bitgert TVL will surely cause the crypto to rise amid volatile market conditions

Key Points:

  • Cardano TVL Has been dropping since June 1 but is still showing signs of growth
  • Bitgert TVL is increasing rapidly as the number of DeFi projects and products continues to grow

The DeFi market has continued to expand, with data showing that it has grown rapidly, with its TVL rising from $400M two years ago to over $2B in 2022. Among the cryptocurrencies that have contributed immensely to this growth are Cardano and Bitgert.

Since the launch of smart contracts for the Cardano chain, Alonzo hard fork, Cardano DeFi expanded quickly. Cardano DeFi exploded in popularity because of the powerful Cardano blockchain. The Cardano TVL exploded from less than $1M in January to $426M by the end of March 2022.

However, Cardano TVL started declining, and today, even with a 7.8% rise in the past 24 hours of this writing, the Cardano TVL is around $180M. This is more than a 60% decline in just two months. There are several reasons why Cardano TVL has been dropping, and the FED’s hawkish regulations must have been the biggest factor.

The number of investments in DeFi, even on Cardano, has reduced significantly due to the massive selling pressure. However, crypto projects like Bitgert have experienced an upward growth in TVL. The massive growth of the DeFi projects on the Bitgert chain is the reason Bitgert TVL has been performing so well in 2022.

Bitgert Bullish DeFi Ecosystem

One thing that makes the Bitgert DeFi ecosystem grow popular is the powerful blockchain it is running on. The Bitgert BRC20 chain is a zero gas fee chain and has the fastest speed in the market. With the Bitgert gas fee being $0.0000000000001, there are so many DeFi projects that have launched on Bitgert because of the cheap transaction costs.

Bitgert chain being the fastest chain at 100k TPS, is also enabling DeFi projects to address the scaling issue better than even Cardano and Ethereum. Therefore, Bitgert chain’s high speed and low gas fee are two reasons Bitgert TVL is growing fast.

There are many Bitgert DeFi products coming in the Bitgert roadmap V2 and from the Bitgert Startup Studio projects. Therefore, Bitgert TVL is expected to continue growing bigger this year and maybe faster than Cardano

Conclusion

Cardano and Bitgert might be among the DeFi ecosystems to watch, especially with the Cardano Vasil hard fork launch. However, they will need to compete with Ethereum, which is the largest DeFi ecosystem today.

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