Cardano’s Total Value Locked Will Likely Surge in the Near Future
- According to the tweet, Cardano’s unique PoS model positions the network perfectly for the next bull run.
- In related news, the price of ADA was able to print a 24-hour gain and is trading at $0.3894.
TapTools (@TapTools) posted a multithreaded tweet yesterday which stated that the Total Value Locked (TVL) for Cardano (ADA) is set for exponential growth and shared why traders and investors should keep an eye on the Ethereum-killer.
According to the tweet, Cardano’s unique Proof of Stake (PoS) model offers a secure, scalable, and eco-friendly solution, which positions the Cardano network as a top contender for the next wave of DeFi adoption.
The tweet then added that smart contracts are live on Cardano, which enables developers to build powerful decentralized apps on the platform. According to TapTools, ADA’s TVL will soar as more decentralized applications get built on top of the blockchain network.
Next, Cardano’s focus on financial inclusivity and real-world use cases combined with its focus on emerging markets opens up massive growth potential for the ecosystem to grow its user base, added the tweet.
Furthermore, Cardano has formed strategic partnerships with what the tweet called “heavy-hitters” in the industry, which will pave the way for increased adoption and TVL growth.
Lastly, Cardano’s thriving community of developers, enthusiasts and investors is a driving force for growth. The support and contributions of all of these community members will “undoubtedly propel TVL to new heights,” stated the tweet.
At press time, ADA’s price is up 2.73% according to CoinMarketCap. Despite this 24-hour increase in ADA’s price, the altcoin’s weekly price performance remains in the red at -1.02%. As a result, ADA is changing hands at $0.3894.
ADA was also able to strengthen against the two crypto market leaders Bitcoin (BTC) and Ethereum (ETH) by 2.21% and 2.23% respectively over the last 24 hours.
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