Prediction: ADA outperforms Solana as DeFi TVL approaches $700M

After Gensler hinted at his SEC retirement on November 14, Cardano rose 109% to $1.20 on Wednesday, outperforming Solana and Ethereum.

Cardano's TVL rose $373 million, indicating a 120% growth in blockchain-based DeFi project demand over the last 20 days.
Technical indicators indicate additional upside as bulls hold $1.20 support.

Cardano stayed over $1.20 on Wednesday. Recent on-chain inflows amid Gensler's resignation imply the rise might reach $1.50.

First, ADA gained 230% in November 2024, its greatest month since August 2021.

On November 23, ADA touched $1, bringing Cardano's market valuation above $40 billion for the first time in three years.

Recent market sources indicate that Cardano's price surge has corresponded with Gary Gensler's projected departure as SEC Chair.

When Gensler hinted about leaving, Cardano was $0.57 on November 14.

ADA has risen 110% to $1.20 as of Wednesday, outpacing Solana and Ethereum.

Cardano TVL nears $700M following 120% 20-day spike.
Cardano's 110% price increases seem to be linked to short-term demand for undervalued assets owing to SEC action.

That amount rose 120% to $685 million on Wednesday when Gensler's departure hint hit the newsreels.

First, TVL's 120% 20-day increase tops ADA's 110% price gains.

This unique market dynamic shows that organic network demand, not short-term speculative fury, has fueled the surge.

Second, when SEC Chair Gary Gensler resigned, TVL has increased, indicating trust in Cardano's DeFi ecosystem.

Cardano price forecast: $1.50 breakthrough if $1.20 maintains.
With TVL growth surpassing pricing, Cardano price has significant upside potential and might rise to $1.50 soon.

Bollinger bands widening indicates buying momentum. If $1.20 holds, ADA bulls might quickly go to the upper Bollinger Band at $1.30 and climb to $1.50 psychological barrier.

Unfortunately, failing to maintain $1.20 might move emphasis back to $0.95 as the next significant support.

#ADA #Cardano $ADA