Cardano (ADA) DeFi TVL Hits 3-Year High as Whales Accumulate 348M Tokens

Overview

Cardano (ADA) has recently experienced significant growth in its decentralized finance (DeFi) sector, with total value locked (TVL) reaching its highest point in three years. This surge in DeFi activity coincides with increased accumulation of ADA tokens by large holders, indicating a strong interest in the token despite recent market fluctuations.

DeFi Growth and Market Capitalization

In the third quarter of 2025, Cardano’s total value locked in DeFi rose by 28.7%, marking the highest level since early 2022. According to Messari’s latest State of Cardano report, this growth in DeFi, combined with a robust expansion of the network’s treasury, led to a 42.5% increase in ADA’s market capitalization, bringing it to $29.5 billion.

Key Protocols Driving Momentum

The momentum in Cardano’s DeFi sector has been significantly influenced by key protocols such as Liqwid and Minswap. Liqwid saw its TVL increase by 50.8%, reaching $101.6 million, while Minswap accounted for 74.7% of the decentralized exchange (DEX) volume. Additionally, Cardano’s treasury balance has grown to $1.3 billion, reflecting renewed confidence from developers and showcasing the ecosystem’s resilience.

Community Commitment to Decentralization

Charles Hoskinson, the founder of Cardano, commended the community’s increasing commitment to decentralization. He expressed optimism that the ecosystem could see substantial growth in DeFi value if users continue to adopt native protocols.

Whale Accumulation Amidst Price Fluctuations

In recent days, whale activity has surged, with large holders accumulating 348 million ADA, valued at over $204 million. This accumulation took place between November 7 and 10 and represents nearly 0.94% of the total supply. This buying spree has occurred alongside a modest recovery in ADA’s price, which rebounded by 21% from a recent low.

Diverging Network Activity

Despite the increase in whale accumulation, overall network activity has seen a slight decline, with daily active addresses decreasing. This suggests that while institutional and high-net-worth investors are positioning for long-term gains, retail users may be exercising caution in the current market environment.

Cardano’s Institutional Alignment and Future Roadmap

Cardano has been included among digital assets that align with the ISO 20022 global financial messaging standard, enhancing its institutional narrative. Hoskinson reaffirmed ADA’s full support for this framework, positioning it alongside other notable assets in the realm of global payment interoperability.

Furthermore, Cardano achieved full community-led governance in September 2025 and is actively rolling out upgrades, including Halo2-Plutus, aimed at enhancing privacy and scalability. The Cardano Foundation’s updated roadmap focuses on expanding DeFi liquidity, promoting stablecoin adoption, and tokenizing real-world assets, indicating a maturing ecosystem poised for further blockchain adoption.

Impact on the Crypto Market

• Cardano’s DeFi TVL reaching a three-year high signals a growing interest in decentralized finance.
• The significant increase in market capitalization reflects investor confidence and ecosystem growth.
• Whale accumulation suggests strong institutional interest, potentially impacting future price movements.
• The decline in daily active addresses indicates a cautious retail market, contrasting with institutional activity.
• Cardano’s alignment with ISO 20022 may enhance its appeal to institutional investors and facilitate broader adoption.
• The focus on expanding DeFi liquidity and real-world asset tokenization positions Cardano for future growth within the blockchain space.

Updated: 11/11/2025, 10:00:38 PM