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a Net Change Limit (NCL) through a newly submitted proposal, which defines the maximum amount of lovelace that can be withdrawn from the treasury during an outlined period of time. The Net Change Limit will be 350,000,000,000,000 lovelace (350 million ADA), which is the maximum amount that can be withdrawn from the treasury during this specific period and shall not be exceeded.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
XRP Price Growth Could Drive Bank Adoption, Says Ripple CTO Emeritus
David Schwartz's insights on XRP suggest that a higher price enhances its efficiency for banks in cross-border payments, requiring fewer tokens for transactions. This can lower liquidity pressure, reduce operational costs, and improve capital efficiency, making XRP a more viable option in the evolving global payments landscape.
CryptometerIo32m ago
Michael Burry’s warning siren in the crypto market..."A downward spiral of collateral collapse" is coming
Michael Burry’s warning siren in the crypto market..."Collateral liquidation vicious cycle" is coming
SuperCryptoWahaha6666643m ago
UNI and AAVE are first in line! Analyst: The current draft crypto market law could severely damage the DeFi yield myth
10x Research warns that if the CLARITY Act is passed, it will ban stablecoin balance yield, potentially impacting DeFi protocols and related tokens. Returns would be funneled back to the traditional financial system, leading to reduced market competition, and many DeFi projects will face strict regulation.
CryptoCity44m ago
XRP Today’s News: Arizona Proposes Legislation to Include XRP as a Treasury Reserve Asset
The Arizona House Rules Committee unanimously passed the SB1649 bill, establishing a Digital Assets Strategic Reserve Fund that puts digital assets such as XRP under the management of the Department of the Treasury, and allows revenue to be generated through methods such as staking. If the bill passes, it will become the first U.S. state to officially recognize XRP as a fiscal reserve asset. XRP is currently trading at $1.28 and faces challenges from technical support and resistance.
MarketWhisper2h ago
Bittensor (TAO) Is Up 140% in 6 Weeks, But Data Shows Retail Is Missing the Big AI Rally
Bittensor has recorded a 140% price increase over the past six weeks, including a 105% rise since March 8.
The latest price action has pushed it to the 26th-largest cryptocurrency by market capitalization, according to new data from Santiment.
AI Tokens Heat Up
-----------------
The rally comes a
CryptoPotato3h ago
Why is Bitcoin down today? Trump’s “Stone Age” comments trigger a $440 million liquidation
Trump, in a speech on April 2, warned Iran, causing market risk sentiment to contract sharply; Bitcoin fell by about 4%, hitting a low of $65,789. Rising oil prices and a strengthening dollar index intensified macro pressure, further impacting the market. From a technical perspective, Bitcoin may face a key support level at $64,000.
MarketWhisper3h ago
