Cardano (ADA) has experienced a significant surge in open interest, with $811.85 million invested within 24 hours, signaling a strong influx of speculative capital and renewed investor confidence. The increase of 0.27% in ADA futures open interest reflects heightened demand amidst bullish market sentiment.
Market data also shows substantial exchange outflows of $932 million ADA, reminiscent of pre-bull market phases from 2021, bolstering optimism. Binance reports that 74% of its ADA traders hold long positions, supporting a bullish outlook with pivotal support at $0.75.
Whales are actively fueling ADA’s rebound, pushing the price above the $0.65 resistance level, with ADA trading around $0.6699—a 2.42% rise in the last 24 hours. Despite this, trading volume remains low at $529.41 million, down 44.74%, which suggests retail investor participation needs to increase to sustain upward momentum.
Major futures activity is concentrated on Binance, Bitget, Gate.io, and Bybit, with Binance alone holding $184.84 million committed, accounting for 22.76% of total open interest. ADA’s price is tentatively approaching key resistance at $0.70 and must surpass $0.75 to aim for higher levels and reclaim market positioning against competitors like Tron.
No official statements have been released from Cardano leadership regarding these developments; however, market metrics suggest ongoing autonomous trading activity is driving the current bullish trend. Historical precedents indicate that such substantial exchange outflows and speculative interest often precede further price appreciation.