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<\/p>\nCryptocurrency asset manager Grayscale Investments\u00a0has maintained both Cardano ($ADA) and Solana ($SOL) as the top holdings in its fund offering investors exposure to smart contract blockchain networks while excluding Ethereum ($ETH).<\/p>\n
According to data from the Grayscale Smart Contract Platform ex Ethereum Fund (GSCPxE), its Cardano allocation is now 30.7%, meaning each share of the fund has 4.4 ADA on it, while its Solana allocation is 26.01%, representing 0.044 SOL per share.<\/p>\n
The fund\u2019s other holdings include Polkadot ($DOT), Avalanche ($AVAX), Polygon ($MATIC), Cosmos ($ATOM), and Algorand ($ALGO). As a result of its rebalancing, the GSCPxE fund dropped Stellar ($XLM) from it.<\/p>\n
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As CryptoGlobe reported, the fund increased its Cardano allocation last month to 32.33% ADA per share, which at the time meant 4.34 ADA were in each share. Since then the fund\u2019s allocation to Solana, Polygon, Cosmos, and Algorand rose slightly.<\/p>\n
Since the fund was launched it has seen its value drop by over 55%, having endured a 16.7% loss over the last 30 days. The fund has $1.82 million in assets under management, and has a minimum investment requirement of $50,000. It is only available for accredited investors.<\/p>\n
The fund\u2019s holdings are weighted by market capitalization. Last year, Grayscale rebalanced its \u00a0Digital Large Cap Fund (GDLC) to\u00a0add a new ADA component\u00a0to it, allowing investors to get exposure to the cryptocurrency after it moved up over 1,000% in 12 months.<\/p>\n
As CryptoGlobe reported, an artificial\u00a0intelligence-based price prediction model\u00a0is suggesting that the price of Cardano\u2019s native token ADA is going to surge to trade at $2.9 by September of this year, representing a 530% increase from the cryptocurrency\u2019s current price.<\/p>\n
In contrast, the cryptocurrency community has, through CoinMarketCap,\u00a0predicted\u00a0that ADA will trade at $0.78 by the end of August, and at $0.457 at the end of the year. The community\u2019s near-term bullishness is likely related to the network\u2019s upcoming Vasil hard fork.<\/p>\n
The hard fork is expected to deliver a \u201cmassive performance improvement\u201d\u00a0to the cryptocurrency\u2019s network.<\/p>\n
Development activity on the Cardano network, which tracks \u201cthe number of GitHub events that the project organization generated\u201d, has\u00a0surpassed that of other major cryptocurrencies, including Ethereum ($ETH) and Solana ($SOL) ahead of the hard fork.<\/p>\n