Cardano: Is the number of institutional investors increasing?

On Chain Cardano transactions above $100,000 surge 50x in 2022, suggesting strong institutional demand.

Cardano (ADA) has been on an uptrend for the past few weeks. The price ran in sync with the number of projects that were integrated into the blockchain.

In 2022, Cardano is seeing greater institutional demand, as seen by the rising volume of on-chain transactions above $100,000. These are up 50x this year, according to data from IntoTheBlock.

IntoTheBlock highlighted that as of March 28, more than 69 billion ADA were transferred, accounting for 99% of the total on-chain volume.

“Cardano is seeing increasing institutional demand. The volume of on-chain transactions >$100,000 has grown 50x in 2022 alone.”

The latest data shows that the price of ADA is rising ahead of hard forks, which may have prompted many crypto traders to bet on a bullish price as ADA is set to see another hard fork in June 2022.

As of March 30, Cardana has reached a total market cap of $40.3 billion. Especially in the last seven days, an increase of more than 8 billion USD could be observed.

Before Cardano turned positive, ADA struggled with seven red monthly candles until a surge in investors prompted the market to attract more investors and traders.

The price development will be exciting, especially after the hard fork, whether Cardano will succeed in climbing further or whether interest in it will wane again.

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