Cardano

Minswap

<ul>
 <li><strong>Cardano’s TVL has risen by 28.14% over the previous two weeks, to $210 million.</strong></li>
 <li><strong>If the price climbs above $0.32 resistance level, then it will likely move towards $0.36 level.</strong></li>
</ul>
<p>There is a direct correlation between the ecosystem’s total value locked (TVL) and the current spike in Cardano prices. According to the latest figures from DefiLlama, <a href="https://thenewscrypto.com/cardanos-scaling-solution-mithril-sees-exciting-progress-with-new-paper/" rel="noopener noreferrer nofollow">Cardano’s</a> TVL has risen by 28.14% over the previous two weeks, to $210 million.</p>
<p>$97.88 million of this TVL comes from the two major <a href="https://thenewscrypto.com/tvl-surge-in-ethereum-layer-2-fuels-defi-growth/" rel="noopener noreferrer nofollow">DeFi</a> projects, Minswap and Indigo. The quick growth in TVL is indicative of rising adoption of Cardano and rising trust in the platform. Also, indicative of rising optimism regarding ADA’s upcoming price movements, the number of addresses holding ADA for long-term recently surpassed 2.7 million.</p>
<h3 class="wp-block-heading" id="bulls-in-control">Bulls in Control</h3>
<p>CryptoRank’s historical indicators point to a bearish indication, and market patterns suggest that ADA may have a slight drop this month. The median monthly return for ADA throughout the years is -2.5%, but the average monthly return is a whopping 43.5%.</p>
<p>With a price increase of 7.39% in the previous 24 hours, Cardano (ADA) has joined the overall cryptocurrency market rally. At the time of writing, ADA is trading at $0.3089, signifying a 17.83% rise in the last 30 days with a trade volume of over $353 million, as per data from CoinMarketCap.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_1M_graph_coinmarketcap.png" alt="" class="wp-image-85051" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_1M_graph_coinmarketcap.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_1M_graph_coinmarketcap-300x181.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_1M_graph_coinmarketcap-150x90.png 150w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price climbs above $0.32 resistance level, then it will likely move towards $0.36 level. Breaking over this level will likely see price testing $0.38 resistance level. On the other hand, if price goes below $0.29 support level, then it will likely decline further to test the $0.28 level. Further decline will likely see price testing $0.26 support level.</p>

Bulls Drive Cardano (ADA) Price as Crypto Market Rebounds

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TheNewsCrypto

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