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ADA Whale Predicts Cardano Bull Run, Here's Timing and Likely Trigger

Wed, 04/12/2023 - 16:00
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Tomiwabold Olajide
ADA Whale believes in potential bull run for Cardano
ADA Whale Predicts Cardano Bull Run, Here's Timing and Likely Trigger
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ADA Whale, a Cardano community-focused Twitter account, believes in the potential of a bull run for Cardano. On Twitter, they mentioned that every bull run begins with a narrative, citing that the last bull run for Cardano was triggered by the Shelley/staking narrative.

ADA Whale believes that the next Cardano bull run might be fueled by increasing DeFi TVL. As TVL increases (predicting $1 billion), the narrative will feed on itself, they continue, and the bull run will begin from there as Cardano trades significantly below the previous all-time high of $3 established in September 2021.

The bull run, according to ADA Whale, is not something expected anytime soon — not even in 2023. In the whale's judgment, the expectation expressed was not just a "2023 story." They suggest that patience might be needed.

The overall value of crypto assets deposited in a decentralized finance (DeFi) system, or in DeFi protocols in general, is known as the "total value locked" (TVL).

As reported, Crypto Venture Capital founder Dan Gambardello stated that the growth in total value locked (TVL) on Cardano will prove to be the most obvious leading indicator of the incoming ADA price increase.

Cardano (ADA) to Make Price Comeback, Here's Leading Indicator, per Crypto Capital Founder

Cardano's TVL, or total value locked, in ADA, continues to rise, reaching highs of 420.26 million ADA on March 22. According to information from DefiLlama, the current value is 411.18 million ADA. Cardano's TVL in dollars is currently at $150.47 million. When staking is included, the value rises even higher, to around $159.46 million.

ADA price action

At the time of writing, Cardano's ADA was marginally down 0.64% in the last 24 hours to $0.404. ADA whales continue to accumulate, adding 560 million coins within two weeks.

Cardano continues to build on the vision it started with over five years ago, addressing the three major challenges facing all blockchain networks: scalability, sustainability and interoperability.

Yesterday, Cardano builder IOG announced the initial mainnet release of the very first light wallet platform, Lace 1.0.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.