Cardano is among the most significant proof of stake (POS) blockchains which require users to stake their native tokens, ADA, for verification and secure transactions within the network.
The network has consistently held the title of having the highest percentage of its token stock staked.
Furthermore, as the entire amount of ADA tokens staked in decentralized finance (DeFi) protocols grow to a new high, the blockchain has strengthened its position in the market.
At the end of Alonzo’s 2021 hard fork upgrade in September, the network experienced the capability of smart contracts brought by the update.
As a result, developers could easily build DApps (decentralized applications) on the blockchain, ushering in the DeFi sector (decentralized finance) to Cardano.
Since then, the number of Cardano-based DeFi protocols has been increasing dramatically. With more developers flocking to the network, investors are joining them, resulting in a swift growth in the number of ADA tokens staked on various protocols by users.
Despite the dips following the 2022 crypto winter, the number of ADA staked since 2023 has skyrocketed to a new high, indicating an uptrend since the start of this year (2023).
Cardano’s TVL on July 4 and July 6, 2023
According to DeFiLIama’s data, Cardano’s Total Value Locked (TVL) on the network has reached a new all-time high of $560.7 million (July 4). Meanwhile, today, July 6, Cardano’s TVL surged to $584.95 million.
Considering the surge in Cardano’s TVL, its native token, ADA is signaling a positive market, meaning it could gain more value or face increased liquidity in no time.
Notwithstanding, Cardano’s (ADA) market analysis could highlight the coin’s performance in the future.
Cardano’s Market Shimmers Positive Following Increased TVL
The chart above depicts a short-term bullish favor for ADA’s price.
The Moving Average Convergence/Divergence (MACD) indicator is above the signal line, confirming a strong short-term bullish momentum.
However, considering the faded green bar on the histogram, ADA is prone to several fluctuations, which could make it touch the $0.27 level during its trade today.
Furthermore, Cardano (ADA) is trading below its 50-Day and 200-Day Simple Moving Averages (SMA), a short and long-term bearish market sentiment, suggesting price fluctuations and potential losses for the coin in the coming days to weeks.
Also, considering the price weakness portrayed on the inverted SMAs, ADA could enter its price consolidation phase, trading within the $0.2 level for a longer period.
On the other hand, the Relative Strength Index (RSI) indicator is at 48.41, showing a neutral market position for ADA.
Moreover, it’s moving up towards the overbought region (above 70), which suggests potential growth in value for the coin.
This sentiment could support the MACD, considering that BUY trades are increasing. Thus, the coin could subsequently reach $0.3 in no time.
Since ADA has two different sentiments, it could affect the price differently, like short-term price increases and long-term decline, increased volatility, or price corrections.
It’s important to note that predicting the precise outcome of market movements is challenging, and many factors, like market sentiment, investor behavior, regulatory changes, technological advancements, and macroeconomic conditions, can influence the actual price behavior.
Thus, it’s advisable to conduct thorough research and consider multiple indicators and fundamental factors when making investment decisions, especially in these situations.
Why ADA Could Uphold its Positive Market
The rapid rise in Cardano’s Total Value Locked (TVL) indicates a bullish sentiment surrounding the ADA cryptocurrency. It could be the steppingstone to the coin’s value rise in the near future.
Considering the impact of high TVL in the crypto space, here are a few observations regarding the rise in Cardano’s TVL and its implications:
- Increased investor confidence
The significant increase in TVL suggests that more users are willing to lock their ADA tokens within Cardano’s DeFi ecosystem. This indicates growing confidence in the platform, as users believe it provides attractive opportunities for yield generation, lending, borrowing, or other financial activities.
- Expanding ecosystem
The rise in TVL could coincide with the growth of Cardano’s DeFi ecosystem, signifying the development and deployment of new decentralized applications (dApps) and protocols on the Cardano blockchain. This expansion can attract more users, developers, and projects to the ecosystem, further enhancing its overall potential and utility.
- Enhanced liquidity
The high Cardano’s TVL could typically lead to increased liquidity within Cardano’s DeFi ecosystem. As more assets are locked, users have access to a larger pool of funds for trading, lending, or other financial operations. Improved liquidity can contribute to a more efficient market, enabling smoother transactions and potentially reducing slippage.
- Positive price impact
The rapid rise in Cardano’s TVL could generate positive sentiment among investors and traders, potentially leading to an increase in the price of ADA. Market participants may view the growing TVL as a positive indicator of Cardano’s adoption and utility, driving demand for the token.
Despite Cardano’s bright future, investors are harnessing the fast-growth eco-friendly project, Chimpzee (CHMPZ), to have a stand in its potential growth.
Chimpzee (CHMPZ) crypto is a unique project combining blockchain technology’s power with a strong mission to impact the environment and save animals positively. It aims to empower individuals to contribute to these causes while providing them with opportunities to earn income.
The project is deeply committed to protecting the environment and wildlife. Investing in CHMPZ makes you part of a community that actively supports environmental initiatives and animal conservation projects. A portion of the funds generated from CHMPZ transactions and activities is directed toward these causes.
Chimpzee comes with three revolutionary ecosystems, the Trade2Earn, Shop2Earn, and Play2Earn.
The Trade2Earn ecosystem is an interactive and innovative NFT marketplace where users profit from shared trading fees incurred on the marketplace by actively trading or holding a Chimpzee NFT passport.
The Chimpzee NFT passport owners will earn a bigger share of the profit pool from trading fees and other benefits tailored to passport owners only.
Furthermore, in the Shop2Earn ecosystem, when customers buy various Chimpzee products from the store, they can receive CHMPZ coins. Some of the proceeds are donated to eligible organizations that protect the environment and animals.
By transacting within the marketplace, you actively support the vision and mission of the project while receiving rewards at the same time that can be used to access special offers and unlock discounts on the ecosystem.
Chimpzee’s Play2Earn ecosystem comes with a Zero Tolerance Game, a game that offers players the chance to earn more tokens on the platform by rewarding them with CHMPZ coins once they complete specific goals.
The title of the game, “Zero tolerance,” highlights how Chimpzee and his troops battle to defend the creatures we share the earth with and subsequently put an end to man’s mechanisms destroying their habitats (the forests).
Chimpzee Fosters And Active Community
Considering the aims of these ecosystems, Chimpzee is fostering an engaged and active community that shares a passion for environmental and animal causes.
The community members collaborate, share ideas, and work together on various initiatives to drive positive change. Participating in the Chimpzee community allows you to network with like-minded individuals, gain knowledge, and contribute to ongoing projects.
By offering participants Chimpzee (CHMPZ) crypto, the project aims to create a virtuous cycle where individuals can align their financial interests with environmental and animal conservation values.
Investing in CHMPZ and engaging with the ecosystem can make a meaningful difference while enjoying the potential for financial growth as well.
Interestingly, Chimpzee is a community-focused project that allows users to stake their CHMPZ tokens, locking them in a special wallet to support the network’s operations. By doing so, they contribute to the security and stability of the Chimpzee platform.
In return for staking, the users receive rewards in CHMPZ tokens, incentivizing their participation and providing them with a passive income stream.
$CHMPZ is Selling Out Fast, Showing High Investor Greed
Chimpzee’s token presale has reached stage 6, with a few days left before stage 7. The token is currently worth $0.00067 CHMPZ, where 1 USDT is equivalent to 1493 CHMPZ.
When the presale enters stage 7, the token’s price will increase to $0.0007 CHMP, and as more presale stages come, the price will also keep growing. At the end of the presale, the CHMPZ listing price will be $0.00185 and will spike following its availability on several exchanges.
So far, Chimpzee has sold over 1.2 billion CHMPZ with a milestone of $728,736 raised in the short term. Considering how fast investors are scooping the token, the amount raised so far could reach the $864,500 benchmark indicated on the presale widget.
Notably, Chimpzee is also offering 300% bonus coins for investors that will help save the black jaguar. So, while CHMPZ is still on its discount price sale, interested investors can simply navigate to the official Chimpzee presale site and buy the tokens now.
Mobile users should use the Trustwallet and Metamask browsers when purchasing $CHMPZ.
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This positive divergence between price and TVL indicates a sustained network demand and affirms the fundamental utility of the Cardano ecosystem. More importantly, if the TVL continues to grow, it could assure investors of ADA's long-term viability as the regulatory battle continues.Can Cardano reach $1000? ›
According to our analysis, there is no evidence that Cardano will reach $1,000. With the current circulating supply, Cardano is unlikely to reach $1,000 any time soon.What is the ADA price prediction for 2023? ›
According to our ADA forecasts, the coin may trade in a range of $0.36 to $0.88 for the year 2023, where the minimum price is $0.36, and the maximum price is $0.88. At the same time, the average ADA value for the year may be around $0.62.How much will ADA be worth in 10 years? ›
As per our price analysis, the value of ADA Coin will continue to grow in the next 10 years, surpassing the $10 mark by the end of this decade. As all cryptos are down, Cardano's performance is also showing slow growth.What will ADA Cardano be worth in 2030? ›
Cardano (ADA) Overview
Bullish Cardano (ADA) price predictions range between $1.19 and $2.24 by 2030. Market analysts believe ADA could reach $0.924179 by 2025.
Cardano Price Prediction Summary
ADA is 91% down from its September 2022 all-time high (ATH) of $3.10. Our ADA price prediction forecasts an average price of $0.2829 by the end of 2023. According to our 2025 Cardano price prediction, the price could break out to the upside reaching $3.50.
Our quick and dirty napkin math is as follows: we've managed to onboard $9.3 trillion in assets into the Cardano ecosystem and there are 45 billion supply of ADA in the blockchain. Meaning, that if we disperse these $9.3tn over the number of ADA coins, we get a value of $206.60!