KEYTAKEAWAYS
- Token Unlocks Worth Over $10 Million This Week
- DeFi TVL Makes Strong Comeback, Breaking Through $100 Billion Threshold
- ADA Surges 52% After Trump's "Endorsement," Becomes 8th Largest Cryptocurrency by Market Cap
CONTENT
Welcome to CoinRank Daily Data Report. In this column series, CoinRank will provide important daily cryptocurrency data news, allowing readers to quickly understand the latest developments in the cryptocurrency market.
TOKEN UNLOCKS WORTH OVER $10 MILLION THIS WEEK
According to RootData, 28 tokens are scheduled for unlocks this week. Among them, MOVE, CHEEL, and ENA will experience one-time large unlocks with a total value exceeding $10 million, which deserves special market attention. The specific unlock details are as follows:
- MOVE will unlock 50 million tokens on March 9, worth approximately $20.83 million, accounting for 0.5% of the current circulating supply;
- CHEEL will unlock 26.71 million tokens on March 3, worth approximately $20.49 million, accounting for 0.27% of the circulating supply;
- ENA will unlock 41.01 million tokens on March 5, worth approximately $15.82 million, accounting for 0.27% of the circulating supply.
Source: RootDate
Analysis:
In the past two weeks, cryptocurrencies have experienced a significant correction. With $10 million worth of token unlocks, the market may face challenges from short-term selling pressure.
Although MOVE, CHEEL, and ENA have large unlock amounts, their proportions relative to circulating supply are relatively low. Investors need to constantly monitor changes in market liquidity.
DEFI TVL MAKES STRONG COMEBACK, BREAKING THROUGH $100 BILLION THRESHOLD
According to the latest data from DeFiLlama, the Total Value Locked (TVL) in DeFi has broken through the $100 billion threshold, currently reaching $103.89 billion, signaling a strong recovery in the DeFi market.
Among them, Ethereum still firmly holds the leading position among public chains, with a TVL as high as $54.58 billion, showing a daily increase of 6.53%. Solana has performed impressively, leading the top ten public chains with a daily increase of 10.24%, with its TVL climbing to $8.188 billion, ranking second. In addition, public chains such as BNB Chain, Tron, Berachain, Base, Arbitrum, and Sui have also shown slight upward trends in TVL, reflecting positive signals of an overall market warming.
Source: DefiLlama
Analysis:
DeFi TVL returning to $100 billion is related to the recent general rise in cryptocurrencies, reflecting a significant rebound in market confidence. The simultaneous recovery of multi-chain ecosystems indicates an overall warming trend in the DeFi market.
ADA SURGES 52% AFTER TRUMP’S “ENDORSEMENT,” BECOMES 8TH LARGEST CRYPTOCURRENCY BY MARKET CAP
According to CoinMarketCap data, after former U.S. President Trump publicly stated last evening that he would “advance strategic reserves of cryptocurrencies including XRP, SOL, and ADA,” Cardano (ADA) price surged dramatically, reaching a high of $1.148 and currently trading at $1.101, with a cumulative increase of 73%.
Source: CoinMarketCap
With this strong performance, ADA’s market capitalization has soared to $35.7 billion, successfully ranking 8th on the cryptocurrency market cap list. ADA’s 24-hour global trading volume has also reached $9.75 billion.
Analysis:
ADA is the native token of the Cardano blockchain, which emphasizes high security, scalability, and sustainable development. Influenced by Trump’s “endorsement,” trading has become exceptionally active with market enthusiasm surging. The price increase highlights the short-term impact of celebrity effects and policy expectations on the cryptocurrency market. It’s worth anticipating what policies might emerge from the White House cryptocurrency summit on March 9.
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