Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
Home»BLOCKCHAIN NEWS»Here’s how ADA could reach $1 again.
BLOCKCHAIN NEWS

Here’s how ADA could reach $1 again.

By Crypto FlexsMarch 5, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Here’s how ADA could reach  again.
Share
Facebook Twitter LinkedIn Pinterest Email

Cardano’s price hit a two-year high of $0.78 on March 5, which caused ADA’s weekly gains to exceed Solana’s performance.

Cardano and other altcoins have seen declines over the past week, while Bitcoin’s dominance (BTC.D) has fallen. On-chain analysis examines how the rapid growth of Cardano’s DeFi ecosystem could help the ADA price capture more value in the future.

ADA price surpassed SOL last week.

Bitcoin has dominated most media headlines so far in March 2024. But Bitcoin’s dominance over the past week highlights how investors are starting to diversify their portfolios as BTC prices reach record highs.

According to market data, ultra-capable layer 1 altcoins have been attracting billions of dollars in capital inflows, with ADA now emerging as one of the most popular coins in the current market rally phase.

Cardano (ADA) vs. Solana (SOL) Price Action | Source: TradingView

The price of ADA rose 34% in the past week, rising from $0.61 on February 27 to a high of $0.80 on March 4. The price of Solana (SOL), a competing L1 network, rose only 28% over the same period.

As the cryptocurrency market rally continues for the sixth month in a row, ADA has captured the hearts of larger investors. In 2024, steady demand for DeFi products and services built on the Cardano network could be a significant bullish catalyst.

Cardano defi TVL attracted $98 million in inflows in 2024.

Last week, ADA price surpassed Solana. And thanks to the steady capital inflows recorded in the Cardano defi ecosystem, the gap could widen further in the coming weeks.

Cardano’s defi TVL hit an all-time high of $506 million on March 4. According to DefiLlama data, this represents an impressive increase of $98 million since the beginning of the year.

Cardano (ADA) total value is locked at $98 million in 2024.
Cardano (ADA) Total Value Locked at $98 Million in 2024 | Source: DeFillama

An increase in TVL is a bullish signal for any layer 1 network. This represents more significant use and adoption of projects built on the network. Cardano’s defi ecosystem could witness another wave of fund inflows, with Ethereum gas rates recently recording a dramatic gas rate spike on March 5th and Solana’s painful network outage on February 5th.

If the scenario continues, increased demand for DeFi services could push the price of ADA above the important resistance level of $1 in the coming weeks.

Prediction: Will Cardano’s price ever reach $1 again?

From an on-chain analytics perspective, ADA has gained investor recognition over SOL at a critical time in the altcoin market rally, which, combined with the surge in Ethereum gas fees, could push Cardano price up another 25% towards its $1 target. .

Further corroborating this position, IntoTheBlock’s global fund deposit/withdrawal data shows that over 83% of existing ADA investors are now in a profitable position due to the latest ADA price rises, including:

Profitable holders are often reluctant to sell their coins during market rallies. If the rally continues, ADA will be in prime position for an accelerating rally towards $1.

Cardano (ADA) Price Prediction
Cardano (ADA) price prediction | source: Into the Block

However, when it comes to near-term price action, ADA faces significant resistance in the $0.77 area.

As you can see in the chart, 32,930 existing holders purchased 953,210 ETH at a minimum price of $0.77. If the bulls can establish a steady support level above $0.78, a sharp rise towards $1 could be on the cards, as expected.

If Cardano sees a significant decline, ADA bulls could regroup and put up a buying wall in the $0.69 area.

Follow us on Google News

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Investors surpass 640,000 BTC when looking at Bitcoin Holdings with $ 22 million purchases.

September 30, 2025

Hyperliquid launches USDH Stablecoin issued by Native Markets

September 25, 2025

The new gold protocol of the BNB chain is due to the $ 2 million launch day nucleus.

September 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Solana Future Surge as the institution induces the open interest for the best record.

October 4, 2025

Free bitcoin.in app withdrawal request My satoshi

October 3, 2025

If this happens, you can see a huge price of $ 1.9.

October 3, 2025

Lombard Liquid Bitcoin Summary Summary

October 3, 2025

Easily Earn $5588+ In Passive Income Every Day With PlanMining Cloud Mining

October 3, 2025

The reason why hyper clicade wins aster with Perp DEX, which can be most invested.

October 3, 2025

Psy Protocol Testnet Combines Internet Scale And Speed With Bitcoin-Level Security

October 2, 2025

Eightco Holdings Inc. ($ORBS) Expands Investor Access With Options Trading

October 2, 2025

How To Use A Bitcoin Heatmap For Smarter Trading Decisions

October 2, 2025

Pioneer the future of digital innovation throughout Web2 and Web3

October 2, 2025

Codego Launches Whitelabel Devices Bringing Tokens Into Daily Life

October 2, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Solana Future Surge as the institution induces the open interest for the best record.

October 4, 2025

Free bitcoin.in app withdrawal request My satoshi

October 3, 2025

If this happens, you can see a huge price of $ 1.9.

October 3, 2025
Most Popular

CME Group started Solana Future on March 17 and strengthened its ETF outlook.

February 28, 2025

Bitcoin Core Development – What does this functional testing involve?

April 10, 2024

Crypto Skeptic Senator Sherrod Brown Is Open to Pushing Stablecoin Legislation, Bloomberg Reports

April 16, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.