Cardano

2024

Bitcoin

<ul>
 <li>Investment products focused on Cardano (ADA) experienced an unprecedented 1,016% spike in inflows over the past week, reaching $6.1 million.</li>
 <li>Cardano now ranks third in inflows over the last seven days, behind Bitcoin and Ethereum.</li>
 <li>ADA has garnered a 2023 year-to-date haul of $11 million in investment products.</li>
</ul>
<p>Over the past week, investment products focused on <a href="https://thenewscrypto.com/?s=Cardano" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> (ADA) saw an unprecedented spike in inflows, vaulting over 1,000% higher week-over-week, according to CoinShares data. The report revealed $6.1 million has entered ADA funds lately as analysts simultaneously call for a decisive price breakout.</p>
<p>Per the digital asset flow figures, Cardano now has the third-highest inflows over the last seven days, trailing only leaders Bitcoin and Ethereum. But its 1,016% weekly fund growth decisively outpaces the rest of the crypto market.</p>
<p>Buoyed by strengthening investment demand, ADA also holds an impressive 2023 year-to-date haul of $11 million in its investment products. The sudden investor appetite spotlights conviction in Cardano’s blockchain growth, pursuing last September’s Vasil hard fork upgrade.</p>
<h2 class="wp-block-heading" id="h-cardano-eyes-further-upside">Cardano eyes further upside</h2>
<p>At the same time, crypto chart analyst Ali Martinez highlights formidable ADA price resistance between $0.54 and $0.56.&nbsp;&nbsp;</p>
<p>However, Martinez suggests a daily close above that supply wall may enable a 26% Cardano price spike toward the $0.68 level. And with bullish momentum accelerating courtesy of heavy capital inflows, ADA appears positioned for an imminent volatility breakout.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> faces a formidable obstacle between $0.54 and $0.56, a zone where nearly 50,000 addresses hold approximately 2 billion <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a>. Overcoming this resistance could pave the way for a bullish move toward $0.68! <a href="https://t.co/SZJuDe5UQg" rel="noopener noreferrer nofollow">pic.twitter.com/SZJuDe5UQg</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1756767789501632659?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 11, 2024</a>
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<p>Of course, ADA bears could still overwhelm emerging upward pressure and force prices lower in the short run. However, it seems clear that strengthened fundamentals combined with profit-seeking traders eyeing key resistance now place ADA at a critical level.</p>
<p>A decisive move outside its current range should set the tone for February price action and determine if fresh investment can propel Cardano higher or if technical selling caps further upside.</p>
<p>If Martinez’s optimistic target gets hit, this newfound institutional interest could fast-track additional Nav rallies. And an escape from its multi-month bear market may prove the catalyst that converts market-leading fund inflows into sustained, game-changing ADA price appreciation through 2024.</p>

Cardano Fund Inflows Explode 1,016% As ADA Eyes Crucial Breakout

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