The Cardano cryptocurrency stands out for its recent advances, marking a period of optimism for investors and enthusiasts. The ADA cryptocurrency, native to the Cardano ecosystem, has witnessed a remarkable 15% increase in the last two weeks, reaching a peak of $0.63 in 2024.

An important milestone was passed when ADA surpassed the critical resistance of US$0.63 making the cryptocurrency appreciate by 10% in the last 24 hours. Closing above this mark on the weekly candle suggests the potential for a continued bull rally, sparking discussions about future valuations.

The rise of ADA coincides with a period of significant expansion for the Cardano ecosystem. The total value locked (TVL) on the network saw a spectacular 166% quarter-on-quarter increase to a record $450 million. This annual growth of 693% highlights the growing adoption of Decentralized Finance (DeFi) within the ecosystem, highlighting the solidity and expansion of the platform.

In addition to TVL, the stablecoins segment on Cardano has also seen robust growth, with a 37% increase for the quarter and an impressive 673% for the year, reinforcing its growing importance within the network. This growth is driven by protocols such as MinswapDEX and newcomer Indigo Protocol, the latter becoming the largest in terms of TVL, surpassing Minswap and highlighting the diversity and growth potential within the ecosystem.

Dan Gambardello, a well-known name in the cryptocurrency space, shared his optimism for ADA’s future, suggesting that the token could reach the $1 milestone. These projections, despite market fluctuations, fuel investor enthusiasm and point to a promising horizon for Cardano.

Meanwhile, another cryptocurrency expert known as Ali (@ali_charts), believes that the price of the cardano cryptocurrency is seeking the $0.80 zone and by 2025 $8.

#Cardano’s breakout could happen sooner than expected! Still, if history repeats itself, we expect $ADA to rise to $0.80, back to $0.60 and then enter a bull run towards $8 in January 2025!


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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