‘Cardano is seeing an increase in institutional demand,’ says the company

IntoTheBlock (ITB), a crypto analytics firm, reported on the growing institutional interest in Cardano’s $ADA coin on Tuesday (March 29).

ITB describes itself as “an intelligence company that delivers actionable intelligence for crypto assets using machine learning and statistical modeling.”

Here are a couple $ADA insights from ITB:

✓ 34% “in the money” (i.e. current price > average cost); 55% “out of the money” (i.e. current price < average cost).

✓ Concentration by large holders — i.e. “the total holdings of whales (addresses that own more than 1% of the circulating supply) and Investors (addresses that own between 0.1% and 1% of the circulating supply)” is 10%.

✓ 30-day price correlation with Bitcoin is 0.93
holders’ composition by time held: 10% have held for over a year; 76% have held for one to twelve months; and 14% have held for less than one month.

✓ In the last 14 days, 56% of transactions occurred during Western trading times and 44% during Eastern trading times

Total Value Locked (TVL) in Cardano’s DeFi protocols presently stands at $302.37 million (as of 5:50 a.m. UTC on March 30), according to DeFi Llama (the all-time high of $326 million was set on March 24).

Source: DeFi Llama

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