Cardano (ADA) has reclaimed major ground in the decentralized finance (DeFi) sector, with total value locked (TVL) soaring by 28.7% in Q3 2025, the highest level since early 2022.
According to Messari’s latest State of Cardano report, the network’s DeFi growth and robust treasury expansion have pushed ADA’s market capitalization up 42.5% to $29.5 billion, marking a strong rebound for the ecosystem.
Cardano founder Charles Hoskinson praised the community’s growing commitment to decentralization, emphasizing that ADA’s ecosystem could expand into “seven or eight digits” in DeFi value if users continue adopting native protocols.
Despite recent market instability that dragged ADA below $0.6, whale activity has surged dramatically. On-chain data from Santiment shows that between November 7 and 10, large holders accumulated 348 million ADA, worth over $204 million, representing nearly 0.94% of the total supply.
However, despite whale accumulation, overall network activity has softened slightly, with daily active addresses declining. This divergence suggests that while retail users are cautious, institutional and high-net-worth investors are positioning for long-term gains.
Cardano’s inclusion among digital assets aligned with the ISO 20022 global financial messaging standard has further strengthened its institutional narrative. Charles Hoskinson reaffirmed ADA’s full support for the framework, placing it alongside assets like XRP and XLM in global payment interoperability.
The Cardano Foundation’s updated roadmap focuses on expanding DeFi liquidity, growing stablecoin adoption, and tokenizing real-world assets, indicating a maturing ecosystem ready for the next wave of blockchain adoption.
Cover image from ChatGPT, ADAUSD chart from Tradingview
