Cardano DeFi Activity Surges 148% on SundaeSwap Dominance

Cardano's decentralized finance (DeFi) sector has seen a significant surge in activity over the past week, with its decentralized exchanges (DEXs) recording a 148% increase in trading volume to $17.49 million.

This growth is still below the peak of $101.89 million recorded mid-August, but it suggests renewed interest in Cardano-based DEXs. The current daily volume stands at around $2.18 million, while the monthly total is approximately $47.49 million.

SundaeSwap remains the leading DEX on Cardano, accounting for 51.83% of the network's daily trading activity with a 24-hour volume of $1.13 million. Over the past seven days, SundaeSwap processed $7.66 million in volume, contributing to 43.79% of Cardano's weekly total.

Other notable DEXs on Cardano include Dano Finance, Minswap, and WingRiders, which also saw significant trading activity over the past week.