The post Cardano Price Analysis: On-Chain Data Identifies Strong Bullish Signals for ADA Price appeared first on Coinpedia Fintech News
Cardano (ADA) has evolved into a thriving smart contract ecosystem, boasting over $15 million in stablecoins and more than 35,000 daily active users on its DeFi protocols. The core Cardano development team has been hard at work building the necessary infrastructure to accommodate a broader user base, with a focus on long-term sustainability.
Impressive Growth in Total Value Locked (TVL)
Market data provided by Defilama reveals that the Cardano network has a total value locked (TVL) of approximately $160.36 million, a substantial increase from January 2023. This surge in TVL has raised expectations for the Cardano network, especially given the growing adoption of blockchain technology and the cryptocurrency market.
Insights from Santiment’s On-Chain Metrics Analysis
.@Cardano is still seeing rising #onchain transaction volume despite its suppressed
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