Current market situation: In November 2024, the cryptocurrency market entered a robust growth phase, particularly after Bitcoin reached an all-time high above 99,000 USD. Cardano ($ADA) followed suit with an exceptional growth spurt, increasing over 200% within 30 days, thanks to renewed community interest.

ADA’s growth drivers: The growth of Cardano is driven by attention from its founder Charles Hoskinson and plans to collaborate with the Trump administration. Political relations development has added to investor trust and interest while enhancing on-chain activities and dApp applications in Cardano’s ecosystem.

Increase in on-chain activity and TVL: Cardano witnessed impressive growth in on-chain activity, with daily active addresses rising from 29,800 to 69,300. The total value locked (TVL) also increased significantly, from 198 million USD to 580.2 million USD in just one month, indicating rapid expansion in the dApp ecosystem and DeFi applications.

ADA’s future outlook: After peaking at 1.15 USD, ADA is currently in an adjustment phase around 1.00 USD, maintaining above the support zone of 0.9770 USD. If it can surpass the resistance at 1.24 USD, ADA could reach 1.50 USD due to strong technical momentum. Factors like the easing in Bitcoin’s dominance may further fuel growth.