The post Cardano price slides as open interest collapse weighs on ADA appeared on BitcoinEthereumNews.com.

Cardano price is under pressure near $0.27 as falling open interest and weak technical structure continue to limit recovery attempts. Summary ADA open interest has fallen from $1.6 billion to $334 million, pointing to a sharp exit by leveraged traders. Price remains below key moving averages, with repeated rejections near the $0.32 level. Technical indicators show weak momentum, keeping downside levels near $0.24–$0.25 in focus. Cardano traded slightly lower on Feb. 9, changing hands at $0.2705 at the time of writing. The token has lost about 31% over the past month and continues to sit near levels last seen in mid-2023. Earlier in February, Cardano (ADA) briefly slipped toward a multi-year low around $0.22 before buyers stepped in. Since then, price action has stayed compressed, with the past seven days confined to a $0.2441–$0.3034 range. As the selloff continues, market activity has slowed. Cardano’s 24-hour trading volume dropped 33% to about $768 million. With traders displaying little urgency on either side, the decline suggests waning participation rather than panic selling. Open interest drop reflects exit by large traders The derivatives market tells a similar story. Data shared on Feb. 9 by Alpharactal co-founder Joao Wedson shows Cardano’s open interest shrinking sharply, falling from $1.6 billion to about $334 million. The move suggests leveraged positions have been closed in size, rather than rolled into new bets. ADA (Cardano) Open Interest has collapsed from $1.6B to $334M. But there’s a detail very few are noticing. Major players have closed their ADA positions aggressively. The key insight lies in where open interest is now concentrated. Back in 2023, Binance controlled over 80% of… pic.twitter.com/N9R8TgfRhC — Joao Wedson (@joao_wedson) February 8, 2026 Wedson also highlighted a shift in where that open interest now sits. In 2023, Binance accounted for more than 80% of ADA’s…

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Filed under: News - @ February 9, 2026 3:39 am