ADA price forecast: how will the ADALend launch and whale holdings impact its value?

Cardano ADA/USD is essentially this blockchain platform that’s built to utilize a Proof-of-Stake (PoS) consensus protocol that’s known as Ouroboros, which is responsible for the process of validating transactions without high energy costs.

Whale holdings in ADA hit a new record high as a catalyst for growth

The largest investors, known as whales, appear to be hunting ADA’s token as the programmable blockchain’s DeFi protocols have seen a rapid level of growth. 

The balances which are held by addresses with 1 million to 10 million coins have increased to a record 12 billion ADA throughout the previous week, which is a 41% increase since January.

The total value locked within the Cardano network has also increased throughout the span of the week, getting to its lifetime high of $164.99 million, according to data from DeFi lama.

Additionally, Laura Shin, who is a crypto-journalist that recently published a book called Cryptopians, uncovered some major facts that showcased that Charles Hoskinson, who is the founder and CEO of Cardano, never enrolled in a Ph.D. program, contrary to his claims.

A Twitter user called out Laura for portraying Charles in a bad light, after which Hoskinson replied to the user that Laura’s book is a “Great work of fiction.” 

Afterward, Laura Shin replied, asking for Charles to address the discrepancies between his claims and the school’s assertions that he was enrolled as an undergrad. 

This sparked mixed reactions across the microblogging platform, where some users criticized Hoskinson while others defended his reputation.

ADALend is also launching on Five BlueZilla Launchpad on March 14, and these include ADAPad, BSCPad, VelasPad, PulsePAd and ETHPad. 

It is being developed to be the ultimate decentralized lending protocol on Cardano which is governed by the community.

Should you buy Cardano (ADA)?

On March 8, 2022, Cardano (ADA) had a value of $0.8112.

In order for us to have a heightened perspective as to what exactly this value point indicates for the value of the ADA token, we are going to go over its all-time high value, as well as the performance it showcased in February.

When we go over the all-time high value of Cardano (ADA), it was on September 2, 2021, when the token reached a value of $3.09. This means that at its ATH, the token was $2.2788 higher In value or by 281%.

When we look at the performance of the token throughout the previous month, Cardano (ADA) had its highest point of value on February 8 at $1.2494.

Cardano’s (ADA) lowest point of value was on February 24, when the token decreased in value to $0.7623. This means that the token saw a decrease in value by $0.4871or by 39%.

With all of this in mind, at $0.8112, ADA is a solid buy as it can reach a value of $1 by the end of March 2022.

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