Cardano Price To Close Q1 With 20% Gains, Will $500m TVL Trigger Massive Rally?

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• Cardano’s TVL in DeFi surpasses the $400 M milestone, whilst wallet addresses cross the 5 M mark.
• Cardano ranks first place with its 24.63% share in Grayscale’s Ex-Ethereum holdings.

  The world of cryptocurrencies now holds faith and optimism of a flight to the stratosphere. As digital assets from its directory portray impressive gains over the weekend. Amongst an ocean of crypto assets from the industry, Cardano has scripted its name with notable gains. Successively, ADA price made its way to $1 during the holiday, bringing positivity amongst investors. 

The Cardano network in a recent feat, has surpassed $400 Million in its DeFi TVL. Whilst Cardano’s wallet addresses cross the 5 M milestone. To the network’s list of achievements, Cardano ranking the first place with its 24.63% share in Grayscale’s Ex-Ethereum holdings.

Cardano TVL To Chug Towards Half A Million Dollars! 

The total ADA in stakes has taken a 74% leap in recent times. Which is a result of purchase/staking by unknown origins. According to sources, the numbers in stake have seen an increase of 1.5 B ADA. Which have come in through 23 new ADA pools, each of which has 62 Million ADA in stake. 

Consequently, learning from DeFillama, the TVL of Cardano with staking is now up 6.95% at $405.7 M. On the other hand, the TVL excluding staking has risen 7.36% over the day at $309.2 M.

That said, MinSwap continues to dominate in TVL with its share of 63.12%. The TVL has grown over 40% in the past week, and 125% over the month. The next milestone is at $500 M.

Conversely, Cardano has surpassed the count of 5 Million in wallet addresses, which is a notable feat. On the other hand, the number of long-term ADA holders is now more than the count of short-term holders. Which has been on a fall since the bygone month.  

Cardano Ranks The First Place In Ex-Ethereum Holdings?

  Grayscale in a social post cites that Cardano stands at the first place in Grayscale’s Ex-Ethereum holdings. With its share of 24.63%, leaving behind top chains such as Solana, Avalanche, Polkadot, Polygon, Algorand, and Stellar. 

Whilst transaction volumes have been Cardano’s strength, the average transfer value of ADA has been picking up pace. The last seen value of transaction volume for 24-hours was at $60.85 Billion.

On the contrary, the average transfer value of ADA was at $0.20 Million. The statistics were seen, when the active addresses were at 114,189, and the fees at $40,336.11. 

ADA Price Marching To $1.2 Next?

  ADA price at the time of writing is changing hands at $0.9822, with gains of 2.7%. Whilst the market cap of the digital asset is hovering around $33,119,649,543.

The volume of trades for around the clock is up 18.65% at $1,865,087,434. ADA price has been ranging in the 24-hour frequency from $0.9519 to $0.9945.

Summing up, ADA price breaching levels of $1, has brought in cheer and optimism amongst ADA holders and investors. That said, growing stakes, TVL, and interest in long-term holders, justifies the prominence and future prospects of the digital asset. With impetus coming in from the bulls we can expect ADA price chugging towards $1.2, following the $1 mark.