TVL on DeFi of Cardano is nearing a record of 700 million dollars, ADA surges 20%

TVL (Total Value Locked) on the DeFi platform of Cardano has recently reached a new high, nearing 700 million dollars. This increase comes from several positive factors in the Cardano ecosystem, including strong network activity and technological developments, with Cardano successfully implementing its first zero-knowledge (ZK) smart contracts on the mainnet, creating significant potential for DeFi applications.

At the same time, the price of ADA has increased by about 20% in this context, surpassing the 1 USD threshold and reaching a multi-year high. This is a sign of increasing confidence from investors, especially as ADA whales have significantly accumulated over time. The recovery in trading activity, with over 840,000 transactions and total transaction fees reaching 279,000 ADA, has further reinforced the positive outlook for ADA's price.

With these combined factors, many analysts believe that ADA is likely to continue growing in the near future, aiming for new resistance levels, possibly 1.25 USD or higher.