Cardano (ADA) network load surpasses 90% as DeFi gains steam

The average blockchain load on the Cardano network has consistently been above 90% over the last few days as decentralized finance (DeFi) applications on the cryptocurrency’s network keep gaining steam.

According to Cardano blockchain insights shared on Google’s Data Studio, the cryptocurrency’s network load started surging between January 14 and 15, weeks after the launch of the network’s first usable DeFi application MuesliSwap, which went live after conducting an under-the-radar offering and got to over $1 million in total value locked in two days.

The network’s blockchain load seemingly started surging ahead of the launch of SundawSwap, a “native, scalable decentralized exchange and automated liquidity provision protocol.” The exchange is backed by cFund, Alameda Research, and Double Peak Group.

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