Yesterday, TapTools (@TapTools) shared a multithreaded tweet that shed light on the exponential growth potential of Cardano’s (ADA) Total Value Locked (TVL). The tweet highlighted why traders and investors should closely monitor this Ethereum killer.
As per the tweet, Cardano’s exceptional Proof of Stake (PoS) framework presents a robust, adaptable, and environmentally conscious resolution, thereby establishing the Cardano network as a leading contender for the forthcoming DeFi adoption surge.
The tweet announced the exciting news that Cardano has successfully implemented smart contracts, allowing developers to create robust decentralized applications on the platform. As per TapTools, ADA’s total value locked (TVL) is expected to surge as more decentralized applications are built on the blockchain network.
Furthermore, the Cardano ecosystem’s emphasis on promoting financial inclusivity and practical applications in emerging markets presents a tremendous opportunity for expanding its user base, as highlighted in the tweet.
In addition, Cardano has established key alliances with industry leaders, aptly referred to as “heavy-hitters,” to facilitate wider acceptance and bolster Total Value Locked (TVL) expansion.
Finally, Cardano’s flourishing community of developers, enthusiasts, and investors catalyzes exponential growth. As per the tweet, these community members’ unwavering support and valuable contributions are bound to elevate TVL to unprecedented levels.
As of the latest update, CoinMarketCap reports a 2.73% surge in ADA’s price. However, despite this promising development, the altcoin’s weekly performance still shows a decline of -1.02%. As a result, ADA is currently trading at $0.3894.
In the past 24 hours, ADA has demonstrated its resilience by gaining 2.21% and 2.23% against the top two crypto market giants, Bitcoin (BTC) and Ethereum (ETH), respectively. This impressive feat showcases ADA’s ability to hold its own in the highly competitive crypto landscape.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
