Cardano's DeFi ecosystem is approaching a total value locked (TVL) of 400 million ADA, the native cryptocurrency of the Cardano network. The current TVL stands at 398.55 million ADA, while the TVL in USD is currently at $148.55 million.

This impressive TVL demonstrates the growing confidence and interest in the platform's DeFi offerings, which is attributed to Cardano's unique approach to scalability and sustainability. Additionally, ongoing developments such as the introduction of smart contracts through the September 2021 Alonzo upgrade and the integration of Plutus V1 into Plutus V2 have contributed to Cardano's success in the DeFi space.