Cardano has grown significantly this year and is poised to outperform its opponents. The Proof-of-Stake (POS) chain has released a slew of new solutions, protocols, and smart contracts, cementing its position as a competitive challenger and contributor in the DeFi field. As of May 18, Cardano hosts 5,776 Plutus V1 scripts, the majority of which are focused on DeFi applications. Cardano Plutus is a major player in the DeFi field and the seventh-largest network by market capitalization. Cardano has surpassed Polkadot (DOT) and Cosmos (ATOM) as the most active protocols in terms of development activity.Ethereum is the undisputed leader, with 125,000 smart contracts executed in a single week and $26 billion total value locked (TVL) in DeFi protocols. On May 14, Cardano’s native cryptocurrency ADA set a fresh high of $504 million.
