Today, Cardano[1] leads the pack in gains amongst the top ten crypto assets by market cap. The Cardano community has extended their unfazed support for the protocol. One highly popular, pseudonymous Cardano whale published a Twitter thread for potential investors who weren’t sure about Cardano.
Fair to say this got the community excited about Cardano’s long-term prospects.
ADA recorded a fresh 4% surge as it traded[2] shy of the $1 mark.
Is it “special”?
Cardano saw an impressive run in 2021-22 in terms of staking.
23 new Cardano ($ADA) pools staked[3] about 1.5 billion ADA ($1.4 B) in the last 24 hours. This increased the cryptocurrency’s total supply staked to around 74%. Cardano staking pool analytics platform (pool.pm), in a series of tweets[4] on 22 March, highlighted this development.
The tweet added that each staking pool possessed more than 60 million Cardano staked[5], had over 5% margin, 0₳ pledge, and usually two whale sharks with more than 30 million staked. Such a large amount potentially indicated an increased interest from more significant market players and corporations.
Also, Cardano’s decentralized finance ecosystem surged at a rapid pace. According to data provided by cryptocurrency analytics firm DeFiLama, the total value locked (TVL[6]) in the protocol surpassed the $400 million mark.
Minswap[8], a community-driven multi-pool decentralized exchange, accounted[9] for 63.07% of the sum above. Not just this, the eighth largest token even locked horns with cryptocurrency giants such as Bitcoin[10], Ethereum[11].
On 21 March, the cryptocurrency had a 24-hour USD transaction volume of $68.76 billion. This was four times or 332.45% higher than Bitcoin’s $15.90 billion and even crossed Ethereum’s $3.63 billion (nearly
