Cardano (ADA) and Solana (SOL) Tops Grayscale Smart Contract Fund Holdings

The Grayscale fund gives investors exposure to smart contract blockchains. Potential Ethereum killer cryptocurrencies, Cardano (ADA) and Solana (SOL) received another win.

Both the cryptocurrencies now hold top positions in Grayscale Investments smart contract blockchain networks fund. This fund belongs to a crypto asset management firm, offers exposure to investors to different smart contract blockchains, except Ethereum (ETH).

Grayscale Smart Contract Platform Ex-Ethereum Fund’s data showed that allocation of Cardano (ADA) on the fund is now 31.3%. Solana (SOL) holds about 25.02% and second position. at the time of writing. Other than these top holdings, the fund has cryptocurrencies that includes Polkadot (DOT), Avalanche (AVAX), Polygon (MATIC), Cosmos (ATOM) and Algorand (ALGO).

As per the reports, the smart contract fund had seen an increase in allocation of Cardano (ADA) during last month. Following the allocation to the Grayscale’s fund, these crypto assets like Solana, Cosmos, Algorand, and Polygon had seen slight uptrend in their value.

However, given the market downturn, the fund has lost about 55% of its value since its launch. Even during the time period of the last 30 days, it has lost about 16.7% of its value. The smart contract fund holds about $1.82 million worth assets under management (AUM) and requires a minimum investment of $50,000.

The holdings of funds found out on the basis of their weightage in crypto market by market cap. Grayscale’s Digital Large Cap Fund (GDLC) had seen rebalancing last year and added a new component in form of ADA. This move came in the wake of crypto assets moving more than thousand percent in the span of 12 months.

It was also reported that a price prediction model is suggesting that by September, 2022, Cardano price is expected to reach $2.9. If this would happen, there could be a growth of about 530% in the price of the crypto asset.

However, another prediction by the crypto community said that ADA would end up trading at around $0.78 by August, 2022 and by the end of this year, it would be trading at $0.457.

Whatever the situation turns out to be, it’s a matter of time. Also the Cardano Community is bullish given the upcoming and most anticipated Vasil hard fork.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing