Grayscale purchased ADA ahead of the Vasil hard fork

Large investors have increased investments in the cardano token (ADA) against the background of the approaching Vasil hard fork. This drew the attention of a Twitter user under the nickname @cryptorecruitr.

Source: twitter.com

According to the reserves of the Grayscale Smart Contract Platform Ex-Ethereum Fund, the ADA token ranks first in terms of purchased volumes. It accounts for more than 34% of investments from the total fund. For comparison, back in mid-April, the ADA accounted for about 25%.

Source: grayscale.com

However, it is worth noting that despite the growth of investments, the Grayscale Smart Contract Platform Ex-Ethereum Fund remains one of the smallest in terms of capital, compared to other products from the financial company Grayscale. So, the fund has a little more than $ 1.9 million under management For comparison, the Grayscale Bitcoin Trust alone accounts for more than $ 19.2 billion, and the Grayscale Ethereum Trust trust has $ 5.5 billion.

Recall, the Hard Fork Vasil is considered the second largest update of the Cardano network. It is expected that the innovation will change the model of scripts based on the Plutus programming language within the Cardano blockchain, which should increase the scaling of the network and reduce commission costs.

Against the background of news, ADA market quotes reacted with insignificant growth, rising by slightly more than 2% to $ 0.65 in the ADA/USD pair. The market capitalization of the ADA at the time of writing is just over $ 22.1 billion About how the activity of decentralized finance and smart contracts on Cardano has updated the record – read in the material of the editors of BeInCrypto.

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