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

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.

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.

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.

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.

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