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Institutional Investors Show Interest In Cardano, Triggering 300% Surge
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Institutional Investors Show Interest In Cardano, Triggering 300% Surge

Scott Matherson
Scott Matherson
10 months ago
3 mins read
Cardano

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Cardano (ADA) has witnessed a massive 300% surge in Exchange Traded Product (ETP) inflows. The unexpected influx of capital from institutional investors could set the stage for a potential uptrend ahead of the Chang hard fork.  

Cardano Inflows Skyrocket 300%

On July 29, CoinShares, a leading firm in the crypto ETP industry, released a weekly report on the fund flows of various digital assets. According to CoinShares, digital asset investment products saw a relatively muted inflow of approximately $245 million in the last week. 

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Among the list of digital assets which recorded new flows, Bitcoin (BTC) recorded the largest increase in inflows. The pioneer cryptocurrency experienced a healthy inflow of $519 million, achieving a month to date inflows of $3.6 billion. 

More impressively, Cardano recorded a surge in inflows into its ETP, totaling approximately $1.2 million. This massive inflow surge represents a whopping 300% addition from the previous week. Furthermore, Cardano’s strong performance has effectively placed it second among all crypto ETPs. 

Sharing a “Flows by Asset” chart of Cardano and various other prominent cryptocurrencies, CoinShares reports that institutional investors have invested a total of $11 million into Cardano-oriented investment products. Additionally, Cardano’s month to date inflow has seen about $2.4 million.

During its report, CoinShares also revealed that the launch of Ethereum Spot Exchange Traded Funds (ETFs) witnessed some of the largest inflows since December 2020. This also led to newly issued ETFs experiencing a staggering $2.2 billion in inflows while trading volumes in Ethereum (ETH) rose by 542%. 

In the case of Cardano, following its 300% surge in ETP inflows, the price of the cryptocurrency witnessed a slight rebound from previous bearish trends. Following a surge to about $0.8 some time in March 2024, Cardano’s price has been undergoing a corrective phase, declining below the $0.4 price mark.

With the Chang hard fork underway following the deployment of Cardano node 9.1.0, the market sentiment surrounding the cryptocurrency has been somewhat more positive. Analysts like ‘Sssebi’ on X (formerly Twitter) have deduced that Cardano was the most undervalued asset amongst the top 10 cryptocurrencies. The analyst disclosed that investors should remain bullish on Cardano, predicting upsides for the cryptocurrency. 

Update On ADA Price Analysis

Despite experiencing constant declines in its price over the past few months, Cardano has steadily consolidated around the $0.4 price level, underscoring the cryptocurrency’s strength and resilience during unfavorable market conditions. CoinMarketCap reports reveal that the cryptocurrency is currently trading at $0.4, reflecting a 4.34% decrease in the last 24 hours. 

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Analysts like Sssebi continue to maintain a bullish outlook for the cryptocurrency, anticipating future price increases during the bull cycle. According to Sssebi, Cardano is set to outperform in the crypto market, catalyzed by its booming ecosystem consisting of hundreds of Decentralized Applications (DApps). 

Cardano ADA price chart from Tradingview.com
ADA price struggles to hold $0.4 | Source: ADAUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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