NEW YORK – (ADA) value witnessed a significant surge today, reaching a peak of $0.4100, the highest since April earlier this year. This growth represents an increase of more than 66% from its lowest valuation this year, propelling its market capitalization to surpass the $13 billion mark. The increase in ADA price reflects a broader bullish trend in the cryptocurrency market, with the ADA reaching an eighteen-month high of over $37,500 and other digital currencies such as , and Tron , which also saw notable gains.
The DeFi ecosystem within Cardano has thrived, with its total value locked (TVL) in ADA surpassing 688 million coins, or over $260 million. The past month has seen substantial growth for DeFi dApps on the Cardano network, with many of them reporting double-digit increases in TVL. Indigo stands out with a 66% jump in its TVL to over $64 million, while Minswap, Liqwid, Optim Finance and Astarter each saw increases of over 60%.
The ADA futures market is also indicating bullish sentiment. Open interest has been on an upward trajectory since hitting its lowest level of $89 million in September. It peaked today at $162 million, suggesting growing demand for ADA.
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