$ADA

As of November 2024, ADA (Cardano) has been seeing notable interest from institutional and high-net-worth investors, likely contributing to recent price gains. ADA has appreciated over 18% in a week and reached its highest price in four months due to significant buy-ins by “whale” investors. This increased interest from large holders, with investments over $10 million, suggests confidence in the platform's long-term potential. Additionally, discussions within the Cardano community are exploring a proposal to lower the treasury tax rate from 20% to 5%. This could increase staking rewards and incentivize more participation, although it may impact funding for ecosystem projects if the proposal moves forward.

Cardano has been strengthening its decentralized finance (DeFi) offerings, with its total value locked (TVL) now around $251 million. The recent increase in TVL suggests growing user interest and adoption of Cardano's DeFi applications, even though it still trails behind competitors like Ethereum. Longer-term, Cardano's focus on scalability, a unique two-layer architecture, and its peer-reviewed research framework give it distinct advantages, especially as it targets DeFi and other decentralized applications.