According to PANews, Cardano experienced substantial growth in the fourth quarter of 2024, as detailed in a report by Messari. The market capitalization of ADA surged by 127% quarter-over-quarter, reaching $30.3 billion. The total value locked (TVL) in Cardano's DeFi ecosystem increased by 94%, amounting to $449 million. Additionally, the stablecoin market cap rose by 66% to $23.2 million. The average daily transaction volume saw a 65% increase, reaching 71,500 transactions.
Cardano also introduced the Ouroboros Peras update, which enhanced network scalability and ensured compatibility with Hydra and Mithril. The price of ADA rose by 126%, reaching $0.84, and its market ranking improved to the 9th position.