{"id":135388,"date":"2023-03-22T09:34:06","date_gmt":"2023-03-22T09:34:06","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=135388"},"modified":"2023-03-22T13:09:33","modified_gmt":"2023-03-22T13:09:33","slug":"ada-rallies-12-in-the-last-24-hours-as-cardano-network-tvl-surges-150","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/ada-rallies-12-in-the-last-24-hours-as-cardano-network-tvl-surges-150\/","title":{"rendered":"ADA Rallies 12% in the Last 24 Hours as Cardano Network TVL Surges 150%"},"content":{"rendered":"<p style=\"text-align: justify\"><a href=\"https:\/\/crypto-economy.com\/knowing-cardano-protocol\/\" target=\"_blank\" rel=\"noopener\"><strong>Cardano (ADA)<\/strong><\/a> follows suit as the majority of the digital assets continue to soar despite the ongoing banking crisis. <strong>The a<\/strong><strong>ltcoin witnessed a dramatic upsurge over the recent couple of days<\/strong> with ADA bulls enjoying Cardano TVL&#8217;s massive surge as decentralized finance (DeFI) activity jumps on the network. <!--more--><\/p>\n<p style=\"text-align: justify\">According to <a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener\"><strong>CoinMarketCap,<\/strong><\/a> Cardano (ADA) gained a massive 12% uptick in the last 24 hours to hover at $0.37. Over the past one week, <strong>ADA increased more than 8%<\/strong>, pulling a short squeeze on bears. The recent price rally can be attributed to several factors that seems to have boosted investor confidence on the altcoin.<\/p>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-135399 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2023\/03\/11-13.jpg\" alt=\"Cardano (ADA) Rallies 12% in the Last 24 Hours as Network TVL Surges 150%\" width=\"812\" height=\"448\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/03\/11-13.jpg 812w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/03\/11-13-300x166.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/03\/11-13-768x424.jpg 768w\" sizes=\"(max-width: 812px) 100vw, 812px\" \/><\/p>\n<h2 style=\"text-align: justify\">Factors Contributing to ADA Price Surge<\/h2>\n<p style=\"text-align: justify\">Recently, SingularityNET (AGIX), a blockchain platform that allows users to create, share and earn by sharing (Artificial Intelligence) AI services,<a href=\"https:\/\/crypto-economy.com\/singularitynet-agix-to-launch-cardano-staking-portal\/\" target=\"_blank\" rel=\"noopener\"> <strong>announced<\/strong><\/a> its Cardano staking portal will launch a beta testing version this month.<\/p>\n<p style=\"text-align: justify\">With the new initiative, the portal <strong>will allow AGIX token holders to stake their tokens on the Cardano network<\/strong>, instead of just on the Ethereum (ETH) network. Given the rise of AI based products and services, this news has contributed to the growth of ADA.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We are delighted to announce that our <a href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Cardano<\/a> staking portal will go LIVE for beta testing early next month.<\/p>\n<p>Subject to successful testing and auditing programs, we are still on schedule for a Q1 release on mainnet!<a href=\"https:\/\/twitter.com\/hashtag\/SingularityNET?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#SingularityNET<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BuildingOnSingularityNET?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#BuildingOnSingularityNET<\/a> <a href=\"https:\/\/t.co\/tfJm9zn2dk\" target=\"_blank\">pic.twitter.com\/tfJm9zn2dk<\/a><\/p>\n<p>&mdash; SingularityNET (@SingularityNET) <a href=\"https:\/\/twitter.com\/SingularityNET\/status\/1628741468994080770?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">February 23, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">Additionally, there is resurgence in Cardano on-chain activity levels. With more dApps launching serving users in DeFi and NFTs, this could support ADA in the short term. The platform observed a significant surge in its total value locked (TVL), which has increased by 150% since reaching its local bottom.<\/p>\n<p style=\"text-align: justify\">This impressive growth is closely tied to renewed interest in decentralized finance (DeFi), as investors flock back to yield farming amid the deepening banking crisis all across the world. Despite not being the primary choice for DeFi enthusiasts, <span style=\"font-size: inherit;background-color: var(--base-3);color: var(--contrast)\"><strong>Cardano offers a wide range of decentralized financial solutions that have contributed to the surge in its TVL<\/strong>. The network&#8217;s focus on scalability, interoperability and sustainability has made it an attractive alternative to other DeFi platforms.<\/span><\/p>\n<h2 style=\"text-align: justify\">Is Cardano Betting on DeFi?<\/h2>\n<p style=\"text-align: justify\">Last month, the Cardano \u00a0network saw a spectacular uptick in whale transactions with an average of approximately <strong>1,700 transaction per day <\/strong>valued at a whopping<strong> $100k or more<\/strong>. Moreover, as per CryptoCompare\u2019s latest Asset Report, the Cardano network also noticed a formidable rise in trading volume since the past 13 months in a \u201c<em>much-needed rebound after hitting the lowest monthly trading volume since October 2020 in December 2022<\/em>.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Happy St. Valentine\u2019s day. \ud83d\udc99<\/p>\n<p>We are pleased to report that the <a href=\"https:\/\/twitter.com\/hashtag\/Valentine?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Valentine<\/a> upgrade \u2013 support for <a href=\"https:\/\/twitter.com\/hashtag\/Plutus?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Plutus<\/a> SECP cryptographic primitives \u2013 is now live on the <a href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Cardano<\/a> mainnet.<\/p>\n<p>1\/4 <a href=\"https:\/\/t.co\/SdYWknKeHY\" target=\"_blank\">pic.twitter.com\/SdYWknKeHY<\/a><\/p>\n<p>&mdash; Input Output (@InputOutputHK) <a href=\"https:\/\/twitter.com\/InputOutputHK\/status\/1625615743470411784?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">February 14, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">In February, Input Output Global (IOG), the organization behind the Cardano blockchain, launched a valentine upgrade for its Standards for Efficient Cryptography (SECP) primitives on the Cardano mainnet. The upgrade aims to boost interoperability on the network to drive blockchain growth and allow developers to use a broader range of native multi-signature designs to build secure and cost-effective decentralized applications (dApps).<\/p>\n<p style=\"text-align: justify\">It is likely, these development have uplifted investor confidence and eventually catapulted Cardano (ADA) prices. Experts anticipate that a successful breakout above $0.39 could lead to <a href=\"https:\/\/crypto-economy.com\/cardano-ada-price-prediction-2\/\" target=\"_blank\" rel=\"noopener\"><strong>an increase toward $0.59<\/strong><\/a>. On the other hand, a rejection could lead to a fall toward $0.22.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano (ADA) follows suit as the majority of the digital assets continue to soar despite the ongoing banking crisis. The altcoin witnessed a dramatic upsurge over the recent couple of days with ADA bulls enjoying Cardano TVL&#8217;s massive surge as decentralized finance (DeFI) activity jumps on the network.<\/p>\n","protected":false},"author":21,"featured_media":135457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[105,70,74],"tags":[5022,4632,5287],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/135388"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=135388"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/135388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/135457"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=135388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=135388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=135388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}