Cardano’s NFT Sales and Total Value Locked Experience Growth
Cardano has seen significant growth in key metrics, outperforming rival cryptocurrencies. NFT sales on the network have surpassed $1.6 million in the last week, marking a 100% increase. In comparison, Solana experienced a 7% decline with approximately $48 million in NFT sales.
Total value locked (TVL) on Cardano has also been increasing, reaching over $400 million and approaching peak levels observed in mid-December 2023. This represents a nearly 700% year-over-year (YoY) increase, boosting Cardano’s ranking from 34th to 13th.
In contrast, Solana’s TVL currently stands at around $2 billion, significantly lower than its all-time high of approximately $10 billion registered in November 2021.
ADA’s Price Performance
Cardano’s ADA has been one of the top-performing altcoins recently, with a 25% price increase over a two-week period. In comparison, Solana (SOL) saw a 14% increase and Ripple’s XRP had an 11% increase during the same period.
X analyst Ali predicted that if ADA could sustain a daily close above $0.53, its valuation could reach $0.68. ADA hovered around the resistance level for 24 hours before beginning an uptrend towards the $0.55 mark.
If you’re interested in more ADA forecasts, you can watch our dedicated video below:
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