Cardano Growth: 1,016% Surge In Fund Inflows
Date
2/13/2024 12:37:49 AM
(MENAFN- eTrendy Stock)
Cardano has witnessed an extraordinary surge in fund inflows, recording a 1,016% increase in ADA-oriented investment products within one week.
As of Feb. 12, the most recent report on digital asset fund flows by CoinShares reveals highlights a $6.1 million influx, making ADA one of the top contenders in the Cryptocurrency market.
Cardano's Strategic Positioning
This surge in funding comes at a very important time for Cardano. It ranked third in trading volume last week, after bitcoin and Ethereum. So far this year, ADA has raised an impressive $11 million. Its popularity is still growing.
Of particular note, this surge in fund inflows aligns with a notable analysis by Ali Martinez, a prominent crypto analyst. According to Martinez, ADA has a significant area of support between $0.54 and $0.56. A lot of addresses in this area hold about two billion ADA. Crypto analysts stated that getting over this obstacle could lead to a move up towards $0.68.
Martinez expressed that ADA's price would increase by 26% if his prediction came true.
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