Cardano Eyes $0.60 After Smart Contract Milestone Hits TVL Boost
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Cardano (ADA) is back in the spotlight after hitting a major smart contract milestone that pushed its total value locked (TVL) to a new yearly high. The ADA token gained nearly 8% in the last 24 hours, trading at $0.57, as developers and investors responded positively to the network’s latest upgrade that enhances smart contract throughput and developer tooling.
The upgrade, known as Voltaire Phase Beta, introduces several governance and scripting improvements, making it easier for developers to deploy and scale decentralized applications (dApps) on the Cardano blockchain. According to Input Output Global (IOG), the team behind Cardano, the upgrade has already led to a surge in developer activity, with over 150 new smart contracts deployed in the past week alone.
On-chain metrics support the bullish trend. Cardano’s total value locked across DeFi platforms surpassed $600 million, the highest level since December 2023. Leading Cardano-based protocols such as Minswap, Indigo, and Liqwid Finance saw double-digit growth in user activity, suggesting a revival of ecosystem engagement after months of stagnation.
Traders are now eyeing the $0.60 resistance level as a short-term target, with momentum indicators like RSI and MACD showing bullish divergence. Analysts at Santiment noted a sharp increase in whale wallet activity, with addresses holding more than 1 million ADA accumulating aggressively over the past week. This accumulation trend is often seen as a precursor to larger price moves.
Cardano has long been criticized for slow development and a cautious rollout strategy, but the recent upgrade appears to be shifting the narrative. Founder Charles Hoskinson praised the Cardano community’s patience, stating in a livestream that the network is “now entering its most dynamic phase of growth,” pointing to upcoming releases in governance, identity, and cross-chain interoperability.
Despite the positive momentum, ADA still faces stiff competition from other Layer-1 networks like Ethereum, Solana, and Avalanche, all of which are pushing forward with scaling solutions and DeFi expansion. However, Cardano’s emphasis on peer-reviewed code and modular architecture continues to appeal to long-term holders and institutional researchers focused on blockchain security.
If ADA can close the week above $0.60, some analysts believe a retest of $0.70 is possible before the end of the month. Much will depend on broader market conditions and whether Cardano can sustain its recent growth in network usage and smart contract deployment.
With rising on-chain activity, strong technical signals, and renewed community enthusiasm, Cardano appears to be building the foundation for a sustained move higher in the weeks ahead.
