If you are a holder of ADA or Polkadot then there is some exciting news that will have the potential to have a big effect on the value of those assets. FD7 Ventures who are a Dubai-based Crypto Investment fund have today revealed their intentions to offload $750 million worth of Bitcoin and reinvest that money into both ADA and Polkadot. This switch is apparently to help investors who are looking to diversify their portfolios.
Prakash Chand, the managing director at FD7 Ventures said this when speaking about his companies new direction.
Projects such as Cardano, Polkadot, and Ethereum are the foundation of the new internet and Web 3.0.
DOT and Cardano (ADA) Outperforming The Rest Of The Market
Cardano at the time of writing is the only crypto amongst the top 10 which is seeing gains. Not just gains, significant gains especially when you consider that Bitcoin and Ethereum have both experienced corrections of around 20%. ADA has been championed more and more frequently recently by some of the most influential people in the market with its peer-reviewed scientific approach leading many to think that this coin is the future of crypto and will one day overtake Ethereum in market cap.
Polkadot has also seen similar gains and like Cardano is overseen by a former founder of Ethereum. ETH is receiving a lot of criticism of late about its gas fees and the usability of the coin has made some look for alternatives. This has often lead to ADA and DOT being referred to as Etherium killers.