Cardano （ADA） has seen a 300% surge in Exchange Traded Product （ETP） inflows, indicating growing interest from institutional investors.
Points
- Cardano recorded a 300% surge in ETP inflows.
- Institutional investors added $1.2 million into Cardano ETPs.
- Cardano’s strong performance places it second among crypto ETPs.
- Positive market sentiment ahead of the Chang hard fork.
- Analysts predict a bullish future for Cardano.
Cardano （ADA） has witnessed a remarkable 300% surge in Exchange Traded Product （ETP） inflows, driven by a substantial influx of capital from institutional investors. This significant increase could potentially set the stage for a bullish trend ahead of the anticipated Chang hard fork.
On July 29, CoinShares, a leading firm in the crypto ETP industry, released a report highlighting the fund flows of various digital assets. The report revealed that digital asset investment products saw a relatively modest inflow of approximately $245 million over the past week. Among the assets, Bitcoin （BTC） recorded the largest inflows, amounting to $519 million, bringing its month-to-date inflows to $3.6 billion.
However, Cardano stood out with a massive inflow surge into its ETPs, totaling around $1.2 million. This represents a staggering 300% increase from the previous week. Cardano’s impressive performance has effectively positioned it as the second-highest among all crypto ETPs. CoinShares reported that institutional investors have collectively invested $11 million into Cardano-oriented investment products, with a month-to-date inflow of about $2.4 million.
The report also highlighted the launch of Ethereum Spot Exchange Traded Funds （ETFs）, which experienced significant inflows since December 2020. Newly issued ETFs saw an influx of $2.2 billion, while trading volumes for Ethereum （ETH） increased by 542%.
Cardano’s price has shown resilience despite a corrective phase, trading below the $0.4 mark. With the deployment of Cardano node 9.1.0 and the ongoing Chang hard fork, market sentiment surrounding Cardano has turned more positive. Analysts, including ‘Sssebi’ on X （formerly Twitter）, believe Cardano remains undervalued among the top 10 cryptocurrencies, urging investors to stay bullish.
解説
- The 300% surge in ETP inflows into Cardano is a strong indicator of growing institutional interest, which can drive further price appreciation.
- Cardano’s consistent performance and resilience amid market corrections underscore its potential as a long-term investment.
- The upcoming Chang hard fork and the positive market sentiment it generates are likely to be key catalysts for Cardano’s future growth.
- Analysts’ bullish predictions for Cardano reflect confidence in its robust ecosystem and potential to outperform in the crypto market, making it an asset to watch closely.