Cardano saw a 27,631.45% futures volume surge on the Bitmex exchange, sparking attention in the market.
According to CoinGlass data, Cardano futures volume rose 27,631.45% in the last 24 hours on the Bitmex crypto exchange, reaching $47.64 million.
This remains significant, being accompanied by an increase in open interest as it shows that derivatives traders are making moves in the market.
Open interest reflects the total number of outstanding futures or options contracts in the market, with an increase in open interest suggesting inflow of new money.
In the last 24 hours, Cardano’s open interest rose nearly 2% (negative the prior day) to $790.3 million.
At the time of writing, ADA was trading down 0.34% in the last 24 hours to $0.388 and up 0.45% weekly.
What’s next for ADA price?
Cardano (ADA) saw a strong run at 2026’s start, reaching a high of $0.4374 on Jan. 6. The climb allowed Cardano to surpass the daily MA 50 at $0.40 for the first time since early October.
However, this price increase has now been reversed, although not completely, with Cardano returning to trade below the daily MA 50. Cardano has marked four straight days of drop since Jan. 6, and will mark its fifth day if today ends in losses.
ADA’s price U-turn might not be far-fetched amid a continued void in liquidity and market depth across the altcoin market following a major liquidation event last October, which wiped out nearly $20 billion in leveraged bets.
If bulls regain momentum in the markets, ADA will try to reclaim the daily MA 50 at $0.4 as support. If this is achieved, Cardano might target the $0.65 level next, which might open the pathway toward $1.
The Cardano Constitution requires the establishment of a Net Change Limit (NCL) through a newly submitted proposal, which defines the maximum amount of lovelace that can be withdrawn from the treasury during an outlined period of time. The Net Change Limit will be 350,000,000,000,000 lovelace (350 million ADA), which is the maximum amount that can be withdrawn from the treasury during this specific period and shall not be exceeded.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitmine Chairman Tom Lee: The cryptocurrency winter may end before April.
Bitmine Chairman Tom Lee said that the current crypto market may have already bottomed out and that the decline could end before 2026. He pointed to the correlation between Ethereum and the S&P 500’s drop, and noted that long-term holders are maintaining their positions, suggesting the market may be entering an accumulation phase. Bitmine has recently increased its holdings by more than 65,000 ETH.
GateNews17m ago
Here’s How High Silver Price Could Go This Week
Silver has been anything but calm lately. The silver price ran up to around $121 in January, then dropped fast in early February.
Since then, March has been all about trying to settle down. Most of the time, price has just been moving between $80 and $95, jumping up and down as traders
CaptainAltcoin31m ago
Analyst: The key resistance level for Bitcoin is $72,500, which may continue to face pressure in the coming months.
CryptoQuant analyst Darkfost stated that Bitcoin's failure to return to the realized price of $72,500, excluding long-term inactive supply, may face continued downward pressure, having historically remained below this level for 6 to 10 months during bear markets.
BlockBeatNews40m ago
Bitcoin Faces Extended Weakness Below Key Cost Basis
Bitcoin struggles below the key $72.5K realized price, indicating resistance and consistent selling pressure. Recent price action highlights weak recovery signs with potential further declines if support at $66K fails.
CryptoFrontNews46m ago
