Cardano! Does it ring a bell to you? You must have heard of the name because it is one of the famous companies in the crypto sphere. It has over 276.5 million ADA in its Treasury, becoming one of the industry’s most utilized platforms. The most impressive part of the company is that the fund’s overall value in its Treasury continues to increase steadily. It is almost close to doubling the total funds it generated via its 2016 ICO projects. Considering the sum of money presently in its Treasury, it won’t be out of place to predict a brighter future for the company as time goes on.
ADA’s price keeps soaring higher
The firm’s ADA began its massive price growth in January and managed its consistency throughout the month. Thanks to the significant rise in price, Ada was sold at $0.44 — a three-year high — in the first week of February. Interestingly, it isn’t expected to stop its growing fame and financial value soon, following the enormous support from its users and the crypto industry at large.
The reason behind users’ support for the digital asset isn’t far fetched. Apart from providing a perfect opportunity for increasing their gains, ADA’s increasing price equally enhances their chances of enjoying both short and long-term benefits.
In the same vein, the overall value of ADA present in Cardano’s Treasury greatly determines the total amount of money shared to different sectors that make up the Cardano firm. It means Cardano’s community will experience better cash inflows when there is a higher ADA’s value in the Treasury.
According to Project Catalyst’s latest stats, over 276,588,875 ADA is currently locked in the Cardano treasury. At the time of this publication, ADA’s price stays at $0.41, ensuring that the company’s overall Treasury remains at over $113 million.
ADA becomes the sixth-largest cryptocurrency in the world
Despite a slight drop in its price on Friday, it is believed that the Carbano’s native cryptocurrency would be getting better attention from investors in days to come as long as it maintains steady growth. Meanwhile, the significant increase in the Carbano’s Treasury value is crucial to its staff— who are doing everything possible to benefit from the company’s grant program — and the crypto industry because it signifies a very distinguished and laudable occurrence on the market.
The Cardano treasury increase is one of the few situations in which a crypto asset recorded such improvements after its ICO. In its 2016 ICO, the crypto-based firm generated slightly more than $62 million in three months, having sold 45 billion ADA for $0.0024 per token.
As much as the outcome wasn’t impressive as expected, many crypto enthusiasts believed the company didn’t do badly, considering the program took place at the beginning of the ICO craze, which saw lots of token sales from other companies. Interestingly after four years, Cardano’s Treasury is twice what IOHK could raise in the ICO. You must know that Cardano’s ADA is the sixth-largest cryptocurrency in the world, with close to a $13 million market cap.