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$1,610,000,000 in Cardano in 24 Hours, ADA Momentum Still Lagging

Mon, 6/10/2025 - 12:26
Cardano price in spotlight as ADA open interest set to trigger new reset
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$1,610,000,000 in Cardano in 24 Hours, ADA Momentum Still Lagging
Cover image via U.Today

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Cardano (ADA) has seen an uptick in its open interest in the last 24 hours as investors committed 1.89 billion ADA, valued at $1.61 billion. The increased open interest suggests investors are anticipating a surge in momentum, but the price has yet to register a significant gain.

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Bullish futures, as ADA's volume hinders breakout

The spike in open interest signals investors are bullish about the asset and betting on it to surge. For clarity, open interest refers to the total sum of unsettled active futures contracts that investors have committed to ADA. The confidence of these investors could trigger a price gain for the coin.

CoinGlass data shows that those bullish about Cardano’s potential are basically from the Binance, Bitget, Gate and Bybit exchanges. Binance traders lead with 380.82 million ADA worth $324.03 million. Bitget, Gate and Bybit invested $306.77 million, $274.09 million and $266.57 million, respectively.

Despite this positive sentiment, the price momentum is still lagging and has not climbed correspondingly to the uptick. As of press time, Cardano is changing hands at $0.8519, representing a 1.31% decline in the last 24 hours.

Earlier, the ADA price peaked at $0.8637, but as capital rotated into Bitcoin and BNB, some market participants went for profit. This has affected buying interest, as trading volume has dropped by 10.68% to $1.14 billion within the same time frame.

With Bitcoin on a bullish rally, Cardano’s breakout might take a while to occur. Notably, ADA has been known to underperform when BTC is on an upward trajectory. For instance, in May 2025, when Bitcoin soared, Cardano suffered an 8% decline.

Meanwhile, as reported by U.Today, Cardano’s Bollinger Bands suggest that the coin might be undervalued. If holders stop their profit-taking move and support the asset by actively transacting the coin, it could flip $1, as it has room for growth.

Institutional interest fuels optimism for Cardano

Meanwhile, in a significant institutional adoption move, Cardano has entered into a partnership with NEAR protocol, an artificial intelligence (AI) blockchain. The collaboration will see users who trade crypto assets across different blockchains without being concerned about safety and other details.

The collaboration is expected to increase adoption for Cardano and might impact the price outlook in the long run. Additionally, the approval of the Cardano exchange-traded fund (ETF) by Oct. 26, 2025, could trigger more institutional adoption.

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