Cardano (ADA) has not performed well for months. Even as the overall market rose, Cardano’s gains were minimal, and its chart shows selling pressure. However, the Leios upgrade is set to be released next month, and there was an expectation that it would have a positive impact on Cardano’s price. But that may not be the case, as even the value of DeFi TVL is continuing to decline.

The value of assets locked in Cardano’s decentralized finance (DeFi) platform has fallen despite the upcoming upgrade to the Leios operating system.
DeFiLlama data shows that the value of assets locked on Cardano’s platform (DeFi TVL) is not in good shape, having lost more than 23 million ADA tokens over roughly three weeks. But this may not be limited to Cardano alone; ongoing breaches of decentralized finance (DeFi) networks are causing widespread chaos, prompting users to look for solutions to get out of these networks.

This decline does not improve Cardano’s price. While Bitcoin’s price is seeing a notable rise, Cardano’s price fell by 0.5% over one week. This indicates low market activity, where sellers may have grown tired of continuous selling and buyers find no incentive to buy.

The total value locked (TVL) continues to decline despite Hoskison’s plan to enable decentralized finance (DeFi) on the Bitcoin platform. He stated that ADA would be used by those interested in integrating DeFi with Bitcoin, but that was not enough to boost the TVL value.