Cardano (ADA) Price Surges 7%, Boosted by DeFi Expansion and Investor Interest

• Cardano (ADA) coin has been flashing green and has risen more than 7% in recent hours, possibly owing to risk-on market sentiment in the cryptocurrency market.
• The expansion of the Cardano DeFi ecosystem, as well as the continued increase in ADA investors, has positively helped the ADA price.
• Major BSC holders, according to WhaleStats, are also interested in purchasing Cardano (ADA).

The cryptocurrency market has been showing signs of strength in recent days, and Cardano (ADA) coin is no exception. On the 30th of December, the coin hit a two-year low of $0.239, but since then, it has been steadily recovering and at press time, it is trading at around $0.269.

The recent surge in the price of Cardano (ADA) could be attributed to the risk-on sentiment in the cryptocurrency market, as well as the expansion of the DeFi ecosystem of Cardano. The DeFi ecosystem of Cardano has been providing a wide range of services including decentralized exchanges, stablecoins, and lending platforms. This has allowed for more participants in the Cardano network and has thus, had a positive effect on the price of the coin.

Aside from the expansion of the DeFi ecosystem, the price of ADA has also been bolstered by the increasing interest of investors in the coin. Major BSC holders, according to WhaleStats, have been among the top ten of the 4,000 largest BSC whales in the last 24 hours and have been making significant purchases of Cardano (ADA).

The future looks bright for Cardano (ADA) as the coin has been able to break through the bearish trend and has been sustained by the surging interest of investors and the expansion of the DeFi ecosystem. With the increasing number of participants in the Cardano network, and the bullish sentiment in the cryptocurrency market, ADA could potentially rise to $0.300 if buyers sustain their momentum.