Cardano's total value locked (TVL) has risen by 55.42% this month

According to DeFiLlama data, the total value locked (TVL) on the Cardano network has increased by 55.42% in a month, reaching $468 million. The TVL ranks 12th among all chains and has the highest monthly growth rate among the top 35 networks. However, it is worth noting that the native token of this network, ADA, has experienced an increase of approximately 60% in the past month, and there hasn't been a significant change in TVL when measured in ADA tokens. Therefore, it can be inferred that the increase in TVL is mainly driven by the rise in token price.