Cardano’s Meteoric Rise: TVL Surges 166%, Could ADA Price Reach $8 by 2025?

By Sunil Gavhane

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TVL Surges 166%

TVL Surges: Altcoin Daily, an analyst, says Bitcoin’s jump to $52,000 might lead to it growing even more, maybe up to $69,000. This increase is because a lot of people in the US want to buy it. In the past, when Bitcoin’s price went above its highest records, like $69,000, it usually meant that other digital currencies started to become popular too.

Altcoin Daily mentioned that Ethereum and Solana are key players in this trend because they are becoming more popular and attractive to investors compared to riskier options.

He also talked about how Charles Hoskinson, who created Cardano, is positive about ADA’s future. He believes this will be its best year. Hoskinson points to Cardano’s success in growing its total value, improving its rank, and doing well in price.

Cardano’s total value locked (TVL) jumped 166% in three months and almost 700% in one year, highlighting its increasing role in the cryptocurrency world. Also, Cardano’s new partnerships and growing network suggest it could continue to grow and be more widely used.

Hoskinson’s comments are made as more people become interested in and invest in Cardano. This is because of its solid basics and progress. The project’s focus on privacy, with things like Midnight, and its teamwork with other blockchain groups, also strengthens its market status.

Ali Martinez, a market expert, thinks that the price of Cardano (ADA) might go up to $8 by January 2025. He said this after looking at how ADA’s price has changed recently and comparing it to its trends from the end of 2018 to November 2020.

Between that period, ADA’s price was between $0.0177 and $0.1069. It couldn’t go higher than $0.10 because of a top trendline and couldn’t drop below $0.017 because of a bottom trendline. In July 2020, ADA’s price went up past the top trendline after steadily increasing for weeks. This past behavior makes Martinez think ADA could reach $8 later on.

Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.

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