• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Cardano Open Interest Reaches $748 Million Despite Price Decline

user avatar

by Giorgi Kostiuk

17 hours ago


Cardano (ADA), the eighth largest cryptocurrency by market capitalization, shows a significant increase in open interest as prices continue to decline.

Current Situation with Cardano's Open Interest

According to CoinGlass data, Cardano's open interest reached $748,068,693 in the past 24 hours. While the increase was only 4%, it remains well below the peak of $1.21 billion seen on March 3, 2025. ADA prices also remain in the red, with a 0.87% decline in the last 24 hours to $0.717 and a nearly 22% decrease weekly.

Market Trends and Sentiments

Cardano and other cryptocurrency assets mentioned in the initial crypto reserve announcement showed gains but have mostly retraced them. The market is experiencing mixed price action as the producer price index remained unchanged in February, contrary to economists' expectations of a 0.3% increase. Market sentiment has weakened significantly following an earlier sell-off.

Market Outlook and Potential Rebound

According to CryptoQuant, even without an additional sharp decline, the market has already lightened sufficiently, allowing for future upward movements without significant drops. Despite the current stagnation, most cryptocurrencies, including Bitcoin, are in an oversold state, indicating a recovery might not be far off. However, it is still too early to definitively say if the market has entered a full-fledged bear cycle.

The cryptocurrency market remains uncertain with mixed signals. The current oversold condition opens possibilities for future gains, although numerous factors contribute to the uncertainty of future trends.

0

Share

Other news

Bitcoin Breaks 12-Year Trendline: What Does It Mean for Cryptocurrency?

Bitcoin has breached a 12-year support trendline against gold, raising questions about the bull market.

user avatarGiorgi Kostiuk

a few seconds ago

Can Bitcoin Break Through the $92,000 Barrier?

Bitcoin traders monitor the critical $92,000 level that could signal a price correction.

user avatarGiorgi Kostiuk

2 minutes ago

Pectra Delay: Ethereum Launches a Third Testnet

Ethereum delays the Pectra update, launching a third testnet to avoid errors and ensure stability.

user avatarGiorgi Kostiuk

2 minutes ago

Byron Donalds Initiates Bill to Secure Bitcoin Reserve

Byron Donalds proposed a bill to secure Trump's Bitcoin Reserve Order to maintain its role in US financial policy.

user avatarGiorgi Kostiuk

3 minutes ago

Three Arrows Capital's Claim Against FTX Expanded to $1.5 Billion

The U.S. court has allowed Three Arrows Capital to increase its claim against FTX to $1.5 billion.

user avatarGiorgi Kostiuk

4 minutes ago

Lightchain AI: Growth and Development Opportunities Amid Market Uncertainty

Lightchain AI stands out among crypto projects with its focus on innovation and real-world applications.

user avatarGiorgi Kostiuk

9 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.