Cardano: Surges, supports, and everything untold amid upcoming Vasil upgrade

ambcrypto.com:

With the Cardano [ADA] Vasil hard fork billed for 22 September, quite a few interesting things have been happening. Few weeks after its launch, Aada, a lending protocol on the Cardano mainnet, increased in a way no one could have predicted.

According to DeFiLlama, Aada had contributed a whopping $219 increase to ADA’s Total Value Locked (TVL) in the last seven days. Since its launch, this increase was a cumulative 58,186,603%, with its own TVL addition at $360,801. 

Source: DefiLlama

Interestingly, the decentralized lending and borrowing protocols was not the only one involved in the hike. ADAXPro, the non-custodial decentralized exchange operating within the Cardano ecosystem too played its part. 

DeFiLlama, a TVL aggregator, revealed that ADAX had risen 2564% in the last thirty-days. All these hikes had led Cardano’s TVL worth to hit $79.48 million. On the other hand, the non-performance of a number of others was not sufficient to raise ADA’s TVL above $100 million as it was in August.

Source: DefiLlama

In other developments, Input Output Global, the firm behind the Vasil upgrade communicated a message around the ecosystem readiness for it. In an official release on 20 September, Input Output noted that over 98% of Cardano’s mainnet block was in development stage. The company also stated that Decentralized Applications (DApps) on the ADA chain have been tested and confirmed ready.

On-chain metrics showed that Cardano seemed prepared to activate the Vasil hard fork. Based on Santiment data, development activity increased massively between 19 and 20 September.  

Despite falling slightly at press time, it seemed that interest in ADA was on a great increase. The social volume which stood at 9,910 on 20 September had soared to the