$0.03723 -3.56%
ADA · 19w

Cardano (ADA) Doubles Down On Liquidity As It Sets Sights On Institutional Backing

When Cardano (ADA) was launched in 2017, the market had high hopes about its potential to unlock the mass-market adoption of cryptocurrencies through a scientific philosophy and a research-first driven approach that might attract institutional investors.

Cardano is yet to break away from the challenges of the general crypto market but it has retained a top tier position as the 11th biggest coin by market capitalization. Its ADA coin trades around $0.081 and a massive market cap of more than $2.1B.

In the year-to-date period, the trading price of Cardano has gained a decent 87%. However, it has mostly underperformed the 194% gain of Bitcoin and the 113% gain that Ethereum recorded in the same period.

Cardano to attract institutional money with increased liquidity:

Last month, news broke that Cardano has signed up with AlgoZ to leverage the latter’s proprietary automated liquidity solutions to unlock increased liquidity in the ADA token for cryptocurrency traders and investors.

AlgoZ is a market maker solution service created by Fingenon Group for unlocking liquidity for crypto assets. By leveraging Fingenom’s existing world-class infrastructure, trading strategies, algorithms, and combined knowledgebase, AlgoZ has developed into a solution that bridges the gap between the established algorithmic trading of traditional assets and the emerging class of crypto assets. AlgoZ is currently being used by exchanges, crypto projects, and other stakeholders in five continents.

In the year-to-date period, Cardano’s trading volume has skyrocketed from $17.25M to $116.79M USD to mark a 594% increase in trading volumes in just six months. The deal with AlgoZ suggests that Cardano could potentially be moving into the big league if the increased liquidity helps it attract the attention of institutional players. By leveraging AlgoZ to improve its liquidity, Cardona will become more attractive in the cryptocurrency market because its trades wi...

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