Cardano Will Be 'The Most Valuable Altcoin' When Market Tops, Says Crypto Analyst; Total Value Locked Above March 2022 Peak
Portfolio Pulse from Khyathi Dalal
Cardano's (ADA) token has seen a significant increase in value, with a 40% gain in the past week and a 76% increase over the past month. The total value locked (TVL) in Cardano-based DeFi projects has surpassed its March 2022 peak, reaching $430.36 million. The growth is attributed to the performance of lending protocol Indigo and on-chain exchange Minswap, as well as the Djed stablecoin. Analyst Jason Appleton, also known as Crypto Crow, predicts that Cardano could become the most valuable altcoin at market peak. On-chain analytics firm Santiment noted a drop in small ADA wallets before the rally, suggesting a potential price turning point.
December 14, 2023 | 5:53 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Cardano's ADA token has experienced a substantial increase in value and total value locked in its DeFi ecosystem, indicating strong market performance and investor interest.
The positive sentiment from analysts like Jason Appleton and the reported increase in TVL for Cardano's DeFi projects suggest a bullish outlook for ADA in the short term. The historical data from Santiment about small wallet capitulation before the rally could further fuel investor confidence, potentially leading to a continued increase in ADA's price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100