Cardano (ADA) reached a new milestone as the building projects surpassed 1000. Cardano is also seeing inflows from institutional investors
Projects Built On Cardano Now Surpass 1000
The number of projects built on the Cardano platform has surpassed 1,000, marking a new milestone. According to IOHK, Cardano’s parent company, the number of projects under construction has risen to 1,003, up from 992 reported over the weekend.
IOHK provided the latest network growth figures in its most recent weekly report, indicating that a total of 89 projects have recently been launched on the platform, while the number of NFT projects has risen to 5,796. The total number of Cardano native tokens has also crossed 5 million.
Institutional Investors Put More Money Into Cardano
Institutional investors are putting money into the platform as demand for the network grows ahead of the Vasil Hard Fork, which is scheduled for June 29.
Santiment, an on-chain analytics firm, claimed over the weekend that significant whale transaction counts have begun to surface on the ADA network, causing ADA prices to surge.
The ADA price rose as much as 15% in the recent crypto market rally on June 6, before reversing course to trade at $0.587.
Grayscale, the asset manager, has boosted its exposure to Cardano, according to Dan Gambardello, the creator of crypto capital venture Dan Gambardello.
Grayscale Investments launched the Grayscale Smart Contract Platform Ex-Ethereum Fund (“GSCPxE” or the “Fund”) in late March, marking the company’s 18th investment product and third diversified fund offering.
The fund gave investors access to ventures like Solana, Polygon, and Avalanche, among others.
According to Gambardello, ADA had the largest weighting in the fund at the time, with 24.63 percent, but that figure has already grown to 32.33 percent.
