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.
#Cardano faces a formidable obstacle between $0.54 and $0.56, a zone where nearly 50,000 addresses hold approximately 2 billion $ADA. Overcoming this resistance could pave the way for a bullish move toward $0.68! pic.twitter.com/SZJuDe5UQg
— Ali (@ali_charts) February 11, 2024
Martinez expressed that ADA’s price would increase by 26% if his prediction came true.
