$1.26 Billion Locked in Cardano Open Interest; But Traders Remain Cautious
Cardano’s (ADA) open interest is seeing a big surge, with over 1.68 billion ADA now locked in futures contracts. While this signals strong investor conviction for a potential move toward the $1 mark, some...
Cardano’s (ADA) open interest is seeing a big surge, with over 1.68 billion ADA now locked in futures contracts. While this signals strong investor conviction for a potential move toward the $1 mark, some on-chain signs show traders aren’t fully convinced just yet.
ADA Price Pushes Higher as Open Interest Grows
In the past 24 hours, Cardano’s price climbed steadily, hitting an intraday high of $0.7542 before cooling slightly. This price action sparked new momentum in the futures market, with CoinGlass data showing that ADA open interest now sits at roughly $1.26 billion.
This figure means more than 1.68 billion ADA tokens are committed by investors who are betting on a continued price rise. Many see this level of open interest as a positive sign that Cardano could ride the broader crypto market’s bullish wave and attempt to reclaim the psychological $1 level soon.
Bitcoin’s Record High Adds Fuel to Altcoin Optimism
Part of this optimism comes from Bitcoin’s breakout to a new all-time high of $123,091 within the last three days. BTC’s fresh peak has lifted sentiment across the altcoin market, and ADA is no exception. As of this writing, Cardano is trading at $0.7516, marking a 4.04% daily gain.
This recent push helped ADA break through a tough $0.74 resistance level, which now acts as its new support. Additionally, Cardano’s ecosystem is showing signs of growth, with the recent Emurgo Cardano Card launch driving network activity and boosting the number of active addresses.
Volume Drop Reveals Lingering Caution
However, the bullish story has a catch. Despite rising open interest and higher prices, Cardano’s trading volume tells a different tale. The asset’s 24-hour trading volume has dropped by 15.8% to $1.24 billion, signalling that many market participants are still holding back from fully committing to fresh trades.
This reluctance comes as ADA approaches the next key resistance zone around $0.76. Traders may be waiting to see if ADA can maintain stability above the newly reclaimed $0.74 support and gather enough buying power to break through the $0.76 level without facing heavy rejection.
Can Cardano Reclaim $1?
Cardano last touched the $1 price point back in March 2025 before slipping below it. Now, with open interest building, technical indicators show ADA could still be on an upward trajectory. But the next few days will be critical: if traders overcome their caution and volume picks up, ADA could have the momentum to reclaim $1.
On the flip side, if volume stays weak and investors keep hesitating, the asset may struggle to clear its immediate resistance levels, at least for now.
Final Word
For now, Cardano’s open interest growth and price action look promising. But without stronger trading volume and more active participation, the road back to $1 may remain uphill. As always, ADA holders should watch for signs that the breakout above $0.74 is truly sustainable, especially as Bitcoin’s record run continues to shape the entire market’s mood.
Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.
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