The total value of assets locked (TVL) in Cardano\u2019s<\/a> decentralized finance (DeFi) ecosystem is approaching a 21-month high of $300 million on the back of the blockchain network\u2019s native ADA token bullish price movement.<\/p>\n Per DeFillama data, Cardano\u2019s TVL sits at $298 million as of press time, representing a 508% growth on the year-to-date (YTD) metric for a network whose TVL stood at under $50 million at the start of the year.<\/p>\n TVL measures the value of digital assets locked in a particular DeFi protocol\/ecosystem. It can be used to gauge an ecosystem\u2019s health and perceived trust, as a rising TVL suggests investors\u2019 willingness to use the protocol\/ecosystem.<\/p>\n Data<\/a> from DeFillama shows that DeFi activity on Cardano is witnessing a resurgence amid the bullish market sentiment<\/a>.<\/p>\n Per the data aggregator\u2019s dashboard, decentralized exchanges\u2019 trading volume on Cardano during the last 24 hours stood at more than $10 million, while this same metric has recorded a 103% weekly increase to $41.31 million as of press time.<\/p>\n This represents a significant turnaround for a network whose DEXs processed less than $50 million in transactions in September. If the current trend persists, the blockchain will breach the $100 million monthly trading volume mark for the first time since August.<\/p>\n Other critical metrics for the network also point to an improving network activity. For context, the blockchain\u2019s returning addresses have consistently averaged more than 40,000 in December, an increase from the average of 30,000 recorded throughout November.<\/p>\nCardano DeFi activities<\/h2>\n
![\"Cardano](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-07-151408.jpg\")
![\"Cardano](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/ADAUSDT_2023-12-07_15-33-13.png\")