Coinspeaker
Cardano (ADA) Price Shoots Over 15% as DeFi TVL Crosses $450M
Cardano’s native cryptocurrency ADA has registered massive gains shooting over 15% soon after the FOMC meeting concluded on Wednesday. As of press time, the Cardano (ADA) price is trading 13.85% up at $0.6495 with a market cap of $22.9 billion.
The recent price rally for ADA also comes on the backdrop of solid growth in Cardano’s decentralized finance (DeFi) ecosystem. Over the last month, the ADA price is already up by a staggering 80%. Simultaneously, leveraged futures bets on ADA price volatility experienced a remarkable 100% growth during the same period, reflecting increased market activity and investor confidence in Cardano’s expanding ecosystem.
The total value locked (TVL) in projects based on the Cardano blockchain surged to a new high, surpassing $440 million, marking a substantial increase from the previous peak of $330 million recorded in April. The notable growth, particularly in the last week,
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