Cardano’s ADA Sees 54% Weekly Rally Amid Strong Whale Activity and DeFi Growth
Key Highlights:
- Cardano wallets holding $10 million+ in ADA surged 145% over the past month.
- ADA’s Total Value Locked (TVL) in DeFi has climbed to $479.8 million, nearing all-time highs.
- The ADA/BTC pair has reached 8-month highs, signaling further potential gains.
Cardano (ADA) has been outperforming the crypto market with a 12% daily surge, extending its rally to $0.83 and a 54% weekly gain. Analysts attribute this strong performance to a sharp increase in whale accumulation and rising DeFi activity within the Cardano ecosystem.
Whale Activity Drives ADA Rally
Crypto analyst Ali Martinez noted a significant 145.72% increase in Cardano whale wallets holding over $10 million in ADA during the past month, reflecting growing confidence in the asset. This uptick in whale accumulation has been a key driver of ADA’s recent price momentum.
Additionally, Cardano’s decentralized finance (DeFi) ecosystem is thriving. Data from DeFiLlama shows Cardano’s Total Value Locked (TVL) has surged to $479.8 million, nearing its record high. The increased activity across decentralized exchanges (DEXes), lending platforms, and other protocols highlights the expanding adoption of Cardano’s blockchain infrastructure.
Is ADA Poised for a Mega Rally?
Blockchain analytics platform Santiment reported that ADA is decoupling from other altcoins, with its price nearing 8-month highs against Bitcoin. Transaction and whale activity levels on the Cardano network are reminiscent of June, just before a 26% surge in the ADA/BTC pair.
As of now, ADA is trading at $0.786, with a market cap of $27.54 billion and a 25% increase in daily trading volume, reaching $2.27 billion.
Crypto analyst Ali Martinez sees similarities between ADA’s current trajectory and its 2020 bull run. Martinez predicts that ADA could rally as high as $6, representing a 2000% gain, if historical patterns repeat. He expects a major pump around November 18 and a market peak by September 2025.
Potential Collaborations on the Horizon
In addition to market momentum, Cardano founder Charles Hoskinson has hinted at potential collaborations with Ripple. A recent technical exchange with Ripple CTO David Schwartz focused on Cardano’s privacy-focused Midnight initiative and XRP’s blockchain use cases, sparking excitement in the community.
With strong on-chain metrics, rising DeFi adoption, and potential strategic partnerships, Cardano appears well-positioned for sustained growth in the near future.
