Cardano is seeing inflows of funds from institutional investors
gimbal reached a new milestone as the number of projects built on the platform passed the 1,000 mark. According to recent data shared by Cardano’s parent company, IOHK, the number of construction projects reached 1,003, against 992 reported over the weekend.
In its most recent weekly report, IOHK supplied the latest network growth statistics, in which it indicated that a total of 89 projects have recently been launched on Cardano, while the number of NFT projects has climbed to 5,796. Cardano native tokens have also surpassed 5 million.
Cardano faces institutional inflows
Cardano is seeing inflows of funds from institutional investors as demand for the network surges ahead of the Vasil Hard Fork scheduled for June 29. Over the weekend, on-chain analytics firm Santiment reported that the number of whale trades began to appear. on the ADA network, leading to an increase in ADA tariffs.
On June 6, the ADA price rebounded as much as 15% in the latest crypto market recovery before trimming off gains to trade at $0.587.
Crypto Venture Capital Founder Dan Gambardello reports that asset manager Grayscale has increased its exposure to Cardano.
In late March, Grayscale Investments announced the launch of the Grayscale Smart Contract Platform Ex-Ethereum Fund (“GSCPxE” or the “Fund”), its 18th investment product and third diversified fund offering.
The fund provided investors with exposure to projects such as Solana, Polygon, Avalanche and others.
Cardano got the biggest weighting of the fund with 24.63% then, but now this figure has risen to 32.33%, according to Gambardello.
