- Cardano and Bitcoin are in a tight race to the top of the DeFi TVL rankings.
- Cardano recently surpassed Bitcoin but for a short while.
- Cardano is lagging behind Bitcoin and struggles to overcome it, given the ongoing Ordinals and BRC-20 craze.
Cardano’s exceptional growth this year has positioned it as a formidable contender, challenging the likes of Bitcoin and Ethereum. The Proof-of-Stake network has its sights set on the top, given its record-breaking ADA TVL, increased DeFi TVL, and new scalability protocols.
However, the path to surpassing Ethereum, considering its titanic DeFi metrics, remains an arduous task. Making things more difficult is Bitcoin’s current reign, fueled by the craze around BRC-20 and Ordinals.
The question looms: Will Cardano overcome Bitcoin’s supremacy, or will it fade?
Cardano and Bitcoin Race to the Top
In a captivating race, Cardano made an impressive ascent in DeFi TVL rankings, claiming the 16th spot with a total value locked (TVL) of $183.16 million on May 17. The POS chain exhibited its growing strength by surpassing competitors like Bitcoin with its $182 million TVL.
The Cardano community was initially thrilled to see the…
