Cardano (ADA) token has shown impressive performance in recent weeks, driven by whale activity and growing interest in its decentralized finance ecosystem.
ADA is currently trading at $0.83, its highest level since early 2022, after gaining 37% over the past 7 days, according to data from CoinMarketCap.
Over the past 24 hours, the token has recorded a positive return of 13%, reinforcing the bullish outlook around its price. A key factor behind this rally is the resurgence in whale activity, whose operations have increased by 145% in the past month, according to data from IntoTheBlock.
This behavior coincides with an increase in activity within Cardano's DeFi ecosystem, which could lead to increased demand for the token and potentially a value of $1 in the short term.
What drives Cardano price and what to expect in the future?
ADA’s recent performance is supported by widespread optimism in the cryptocurrency market. Currently, the total value locked (TVL) on the Cardano network is approaching $500 million, and this number is expected to grow in 2025, driven by potential regulatory developments and increased institutional interest.
An increase in TVL could translate into increased organic demand for ADA, which would strengthen its price. Some analysts suggest that this rally could take the token to levels as high as $6 by 2025, although this will depend on factors such as the development of its DeFi ecosystem and the global regulatory landscape.
In the current context, the market continues to show solid optimism towards Cardano, especially after months of limited movement. This raises the question of whether now is a good time to invest in ADA. The answer will depend on how the aforementioned factors evolve and the network’s ability to sustain this momentum.
