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Cardano DeFi slumps as Charles Hoskinson backs multi-billion-dollar bet

Cardano\'s decentralised finance ecosystem saw total value locked fall 1.70 percent over 24 hours to $68.17 million. Stablecoins accounted for $64.21 million of funds deposited, The Crypto Basic reported. DefiLlama data showed Dano Finance led with $14.15 million in TVL, followed by Minswap and Liqwid. Founder Charles Hoskinson proposed Cardano PRIME to lift eligible TVL to more than $290 million within a year and sought 120 million ADA from the Cardano treasury.