TVL of Cardano and Algorand Outperforms Other Projects in Bear Market
Despite the bear market conditions, Cardano and Algorand have outperformed most other blockchain projects in terms of total value locked (TVL). Thanks to Milkomeda being deployed on both chains, developers can easily deploy their dApps as-is if they're written in Solidity – making it easier than ever before for them to get up and running quickly!
Dec. 24, 2022 9:18AM
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A graph showing the increasing total value locked (TVL) on Cardano and Algorand compared to other blockchain projects during a bear market period
The bear market has been a challenge for many projects, but the Total Value Locked (TVL) of both Cardano and Algorand have out-performed most other projects. In fact, both chains have even beaten out Ethereum in terms of TVL retention! This means that now is almost the perfect time to deploy on these chains. Thanks to Milkomeda being deployed to both chains, developers can even deploy their dApp as-is if it's written in Solidity. This makes it easier than ever before for developers to get their projects up and running quickly and efficiently. Cardano has seen a steady increase in its TVL since its launch in 2017, with its current TVL sitting at over $1 billion USD. Similarly, Algorand has seen an impressive increase since its launch last year, with its current TVL at over $500 million USD. The success of these two blockchains shows that there is still hope for projects during this bear market period. Both Cardano and Algorand are showing that they are resilient enough to withstand any economic downturns while still providing value for their users. This news is sure to bring some optimism back into the blockchain space as more people become aware of the potential of these two networks. With more developers looking towards them as viable options for deploying their applications, we could see an influx of new users joining these networks soon enough!