TVL of Cardano-based decentralized projects increased by 8,000% in the last 7 days

Wingriders, a Cardano-based decentralized trading platform with local and fast automated marketplace technology, has seen its TVL grow by about 8,000% in the last 7 days, according to web tracking site DeFiLIama.

Between April 12 and April 13, the total amount of funds locked in the program increased by more than $41 million. The significant increase in tracking services is not due to natural demand.

The large increase is due to the official launch of the platform and the $500,000 that remains before the launch most likely owned by the individuals participating in the DEX closed beta.

Cardano-based decentralized solution

The number of decentralized projects on Cardano has climbed to 10, according to TVL Redistribution, indicating the underlying growth of the network. According to some analysts, Cardano has about 20 projects that are not yet publicly available or in the final stages of development.