• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Cardano’s ADA Sees Surge In Large Transactions & Growing DeFi Ecosystem
Cardano

Cardano’s ADA Sees Surge In Large Transactions & Growing DeFi Ecosystem

March 17, 2023 by Mishal Ali

Cardano’s native cryptocurrency, ADA, is seeing a surge in large transactions worth over $100,000 on its blockchain, according to a tweet from Ali, a prominent crypto analyst. 

This trend indicates increased engagement from institutional investors and ADA whales, who are shedding light on their investment strategies.

image 44 1

In addition to the rise in large transactions, ADA whale reported that Cardano’s total value locked (TVL) had grown 20% per month to 358 million ADA year-to-date. 

If this trend continues, it could hit 1 billion ADA in a year, which translates to $3 billion if ADA reaches its all-time high. This growth doesn’t even factor in the launch of new projects like AxoTrade, GeniusyieldO, TeddySwap, Yamfore, SpectrumLabs_, and Liqwidfinance.

YTD, Cardano TVL grew 20% per month to 358m ADA. If this trend continues, it hits 1bn ADA in a year, which is $3bn if ADA goes back to all-time high. This doesn’t factor in yet to launch @axotrade, @GeniusyieldO, @TeddySwap, @yamfore, @SpectrumLabs_, new @liqwidfinance assets etc

— ADA whale (@cardano_whale) March 16, 2023

In the Twitter thread ADA, whale expressed the belief that ignoring Cardano’s DeFi ecosystem for tribalistic reasons is foolish, stating that it will likely become a top 5 DeFi ecosystem in the next bull run with a massive community behind it. Also noted that while volume may still be low for now, outside money is flowing in, as evidenced by the charts of MinswapDEX.

However, not everyone is bullish on Cardano. Another community member accused ADA whales of being driven solely by money and causing stress for others. The response from ADA whale was dismissive, suggesting that the accuser should disappear if they feel they have nothing valuable to contribute to the conversation.

However, the future performance of Cardano’s DeFi ecosystem is uncertain, but it is evident that there is a rising interest from both institutional investors and the ADA whale community.

Cardano (ADA) Price Prediction

ADA recently found solid support at $0.30, and bulls regained momentum, resulting in a rapid price increase this week to reach $0.35 resistance. The ADA chart is bullish, trading at $0.3345 with a 10% rise in the weekly chart.

ADA 1D graph coinmarketcap 5
Source: CoinMarketcap

According to PricePredictions, a crypto price tracking and forecast platform that uses machine learning-based algorithms, Cardano is expected to end the month at $0.3022.

Additionally, CoinMarketCap’s community of 1,229 members has projected an average price of $0.3861 for Cardano by the same date, representing a potential 17.71% increase or +$0.05809 from its current price.

image 44
Source: CoinMarketcap

Related Reading | Ethereum’s Shanghai Upgrade Has Now A Target Date Of April 12

Filed Under: News, Altcoin News Tagged With: Cardano (ADA), Cryptocurrency, price prediction

Primary Sidebar

Recent Posts

  • OKX CMO’s Bold Bitcoin Proposals Receive Surprising Support In Public Vote March 24, 2023
  • Bitcoin’s Value Debate: Diversification Vs. Long-Term Hold Amidst Uncertainty  March 24, 2023
  • Cardano Trading Pair Delisted Citing Low Trading Volume March 23, 2023
  • Ripple CTO Slams SEC’s Coinbase Crackdown: Incompetence Or Insider Protection? March 23, 2023
  • TRON’s Justin Sun Posts Cryptic Tweet After SEC’s Lawsuit March 23, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.