ProtocolReportingApril18,2023Cardano(ADA)StateofCardanoQ12023QuarterlyCommunityReportRedSheehan•ResearchAnalyst(@redvelvetzip)MikeKremer•DataEngineer(@mikeykremer)KeyInsights●ADA’smarketcaproseby54%QoQfrom$8.6billionto$13.2billion.ThisincreasemovedCardanofromthe9thtothe7thlargestnetworkbymarketcap.●TVLincreased172%QoQfrom$50.8millionto$138.3million.Thisincreaseisdrivenbybothestablishedprotocols,suchasMinSwap,andnewerprotocols,suchasLiqwidFinance.●Indigo’sIUSDandDjed’sDJEDstablecoinsdrovetotalstablecoinvalueup261%QoQ.ThesestablecoinsandtheiradoptionwerealsoacatalystfortheoverallTVLincrease.●ThefirstHydraHeadwasopenedonmainnet.TheLayer-2statechanne...