• The native token of the Cardano ecosystem fell by 14.67% despite the rise in TVL.
• Analysis of the 4-hour timeframe displayed the increasing supremacy of bears from the $0.38 region.
• ADA’s next target could be below the $0.30 threshold unless buying pressure appears.

Cardano’s ADA recently witnessed a significant surge in Total Value Locked (TVL), reaching its highest level in the year. TVL is a measure of the total worth of smart contract deposits in a Decentralized Finance (DeFi) protocol.

According to DefiLlama, Cardano’s TVL reached $159.3 million. Further information from the multi-chain blockchain dashboard showed that lending protocols, like Aada, and DEXs, including Minswap, played vital roles on the road to the milestone.

While Minswap contributed a 10.34% hike in the last 30 days, Aada added another 75% increase within the same period. This sharp increase in TVL indicates growing adoption and utilization of the Cardano ecosystem.

While the surge in TVL usually does not guarantee a notable price movement for ADA, there have been some occasions when the metric has fueled further momentum for the token.

H…

The post Cardano’s TVL Surges to Year High: Is ADA Ready for $0.4? appeared first on Coin Edition.

• The native token of the Cardano ecosystem fell by 14.67% despite the rise in TVL.
• Analysis of the 4-hour timeframe displayed the increasing supremacy of bears from the $0.38 region.
• ADA’s next target could be below the $0.30 threshold unless buying pressure appears.

Cardano’s ADA recently witnessed a significant surge in Total Value Locked (TVL), reaching its highest level in the year. TVL is a measure of the total worth of smart contract deposits in a Decentralized Finance (DeFi) protocol.

According to DefiLlama, Cardano’s TVL reached $159.3 million. Further information from the multi-chain blockchain dashboard showed that lending protocols, like Aada, and DEXs, including Minswap, played vital roles on the road to the milestone.

While Minswap contributed a 10.34% hike in the last 30 days, Aada added another 75% increase within the same period. This sharp increase in TVL indicates growing adoption and utilization of the Cardano ecosystem.

While the surge in TVL usually does not guarantee a notable price movement for ADA, there have been some occasions when the metric has fueled further momentum for the token.

H…

The post Cardano’s TVL Surges to Year High: Is ADA Ready for $0.4? appeared first on Coin Edition.