cardano (ADA) continues its steady rise, surpassing the much-watched $1 price level this week, while market cap followed, raising over $10 billion in just seven days.
The decentralized (DeFi) asset has a market cap of $39.45 billion at press time, up nearly 37% from a week ago when this metric was $28.7 billion, according to data from CoinMarketCap.
In other words, the biggest Proof-of-Stake The (PoS) network received an inflow of $10.75 in market capitalization in just seven days and is currently the seventh largest cryptocurrency by this indicator. Currently, Cardano is trading at $1.17, up 39% from seven days ago.
Coinbase Support
Besides these, Coinbase‘s announced on March 24 that it has expanded its staking roster by adding Cardano (ADA) to the list. According to the official announcement, ADA stakers can earn around 3.75% APY (annual rate of return).
Cardano TVL on the Rise
On the other hand, Cardano Locked Total Value (TVL) has been rising steadily since January 21 and hit $318.18 million on March 24. It has gained 1.62% in the last 24 hours, according to data from its analytics platform Defi Llama. .
Based on June, the Cardano team previously stated that the platform will give a big boost to the trading volume and with it increase the volume and liquidity. Vasil hardfork He had made a promise.
Considering the multiple positive developments for Cardano, including increased market cap, price, and TVL, as well as the upcoming major update, it’s not surprising that many market watchers expect the ecosystem as a whole to grow further.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.