Investors Pump Fresh $600 Million into Cardano ADA

Investors Pump Fresh $600 Million into Cardano ADA

Investment Altcoins

By Miles

07 Nov 2023 (9 months ago)

1 min read

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Cardano's ADA attracts $600M from big investors, hinting at a bright future for its growing DeFi platform.

Data shows that big investors are buying lots of ADA, Cardano's currency, putting over $600 million into it. This is a strong sign of their belief in ADA's value.

Ownership Shifts in Cardano

A close look at who owns ADA tells us more. Small owners have slightly fewer coins, but the big players with thousands of ADA have grown in number. Especially those with investments over $10 million have more than doubled, showing they expect ADA to do well.

Cardano's DeFi Grows Fast

Cardano's DeFi sector, where people trade and lend without banks, is growing quickly. It has a value of $245.45 million now, up over 50% in a month. It's even bigger than Bitcoin's DeFi value, suggesting it might become one of the top DeFi systems. Meanwhile, ADA's price has been stable, only dropping a little in one day, and its total market value is a strong $12 billion.

Below is a chart showing Cardano's Price movement in the past 7 days https://coinpaprika.com/coin/ada-cardano/

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