Cardano (ADA) Open Interest Soars 15% to Hit New High
The post Cardano (ADA) Open Interest Soars 15% to Hit New High appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Cardano (ADA) appears set to cross the $1 level as bullish sentiment remains high on the market. Notably, ADA has recorded an impressive surge in its open interest. Cardano open interest surges amid ADA’s bullish path to $1 According to CoinGlass data, a crypto analytics platform, the Cardano open interest has increased significantly by 15% in 24 hours. Futures traders have committed 848.99 million ADA, worth over $761 million. Related The open interest metrics have jumped by more than 6.49% within the last four hours alone. This happened despite ADA losing a few gains after it had reached $0.9281 in earlier trading. This suggests that investors remain confident in the project as the bull market continues. Analysis of the open interest action shows Binance and Bybit dominating the exchanges with 33.3% and 31.65%, respectively. Binance opened 282.62 million ADA coin positions, valued at $253.62 million, while Bybit registered 268.98 million ADA units, valued at $241.06 million. With the soaring open interest and broader bullish sentiment from investors, it appears likely that Cardano’s ride to $1 could happen this season. ADA is trading at $0.8954, a significant 11.6% rally in 24 hours. Market volume has surged by an impressive 50.73% to $4.13 billion. This indicates sustained interest in ADA as it seeks to make a historic mark in…
Filed under: News - @ November 23, 2024 1:13 am