On-chain metrics also support the bullish trend, albeit on a smaller scale.
Total Value Locked (TVL) in protocols built on Cardano rose slightly over the past day, suggesting increased investor activity.
According to DeFiLlama, Cardano’s TVL has now reached $333 million, reflecting growing confidence in the network and a long-term bullish outlook.
If TVL continues to climb, it could add further support to the ongoing accumulation trend in both spot and derivatives markets, helping ADA maintain its bullish position.
However, AMBCrypto’s analysis suggests this might be a setup—a potential bull trap—especially as ADA has started to move upward.
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