Cardano's (ADA) DeFi total lockings have increased by more than 14 million ADAs since August 8, but weak institutional activity is casting a shadow on the price recovery.
Key points:
Since August 8, Cardano's DeFi total lockings (TVL) have increased from 351.5 million ADAs to 365.73 million ADAs.
On August 13, ADA futures trading volume on the Chicago Mercantile Exchange (CME) was zero, and open interest contracts fell to 19.7 million ADA contracts.
ADA is holding the US$0.18 support level, and the next psychological resistance level remains US$0.20.
Cardano DeFi Growth
Data shows that Cardano's locked position value has increased from 351.5 million ADAs on August 8 to 365.73 million ADAs at the time of writing, and these tokens are worth approximately US$66.65 million.
The network's stablecoin supply also increased to US$67 million from US$63 million on August 1. However, decentralized exchange (DEX) trading volume fell to US$867,494 from US$1.88 million on August 11, indicating that trading activity has not kept pace with the growth of locked capital.
TVL's growth follows Cardano's Van Rossem upgrade on July 18, which aims to reduce smart contract costs and increase speed while preparing for subsequent Leios upgrades.
Demand Outlook
On August 13, CME's ADA futures trading volume was zero, and open interest fell from 32.7 million ADAs to 19.7 million ADAs, indicating a weakening in regulated Cardano derivatives trading activity.
Grayscale withdrew its Cardano Trust ETF application on August 10, without an explanation for the decision. The move comes against a backdrop of sluggish institutional interest in altcoin ETFs (excluding ETH products).
ADA is testing $0.18-a price that was once resistance in a double-bottom pattern that may now turn into support. A fall below US$0.18 will weaken recovery prospects.
Technical signals remain mixed: a decline in the ADX indicator suggests that downtrend since the August 6 high of US$0.21 is weakening, while an RSI close to 50 indicates neutral momentum and limited buying pressure.
The current pullback test began with an upward trend on July 28, when the ADA fell back to US$0.18 on August 14 after hitting US$0.21 on August 6. The US$0.15 area remains the reference level for recent lows, while US$0.20 is the next key test for bulls after holding on to support.

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