Cardano (ADA) has added more than 14 million ADA to its DeFi TVL since Aug. 8, but weaker institutional activity is clouding its price recovery.
Key Points:
- Cardano’s DeFi TVL increased from 351.5 million ADA to 365.73 million ADA since Aug. 8.
- CME recorded zero ADA futures volume on Aug. 13 as open interest fell to 19.7 million ADA.
- ADA is defending $0.18 support, with $0.20 remaining the next psychological resistance.
Cardano DeFi Growth
Data shows Cardano’s locked value rose from 351.5 million ADA on Aug. 8 to 365.73 million ADA at the time of writing. The tokens were worth about $66.65 million.
The network’s stablecoin supply also rose from $63 million on Aug. 1 to $67 million. However, decentralized exchange volume fell from $1.88 million on Aug. 11 to $867,494, showing that trading activity has not matched the rise in locked capital.
The TVL increase follows Cardano’s Van Rossem upgrade on Jul. 18, which aimed to make smart contracts cheaper and faster while preparing the network for the Leios upgrade.
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Demand Outlook
CME recorded zero ADA futures volume on Aug. 13. Open interest also dropped from 32.7 million ADA to 19.7 million ADA, pointing to weaker activity in regulated Cardano derivatives.
Grayscale withdrew its Cardano Trust ETF application on Aug. 10. The firm did not explain the decision, which came as institutional interest in altcoin ETFs, apart from Ethereum (ETH) products, remained subdued.
ADA is testing $0.18, a former resistance level in a double-bottom pattern that could now act as support. A break below $0.18 would weaken the recovery case.
Technical signals remain mixed, with a falling ADX suggesting the decline from $0.21 on Aug. 6 is losing strength while an RSI near 50 shows neutral momentum and limited buying pressure.
The current retest follows an uptrend that began Jul. 28 before ADA reached $0.21 on Aug. 6 and slipped back to $0.18 by Aug. 14. The $0.15 area remains the recent lower reference point, while $0.20 is the next major test if buyers keep defending support.
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