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Cardano (ADA) recorded a significant increase in open interest (OI) despite the fluctuation of prices for the coin. In the past 24 hours, 1.31 billion ADA has been committed to opening interest by investors who trade ADA futures.
Ada Investors refer to confidence amid fluctuations
According to Coinglass Data, this represents $ 1.21 billion in the period. Despite the fluctuations, this increase in Ada’s OI indicates that Cardano investors are looking for some positive price movement and is likely to settle in the price.
This may mean that the market participants are betting on ADA to restore one dollar level. It is worth noting that analysts say that this expectation is not in place, given the historical data of ADA for February. Ada managed to maintain a growth rate of 31.3 %, according to Cryptorank Data.
However, in the past seven days, ADA has not been able to violate the resistance mark of $ 0.99 as each step ends with the currency sliding to low levels. He left this Ada fluctuating between $ 0.9215 and $ 0.9819 on the market.
Until this lines, ADA is Change Hands at $ 0.9304, a decrease of 4.34 %. However, the trading volume increased slightly by 4.27 % to 672.42 million dollars as investors remain confident in ADA’s 2025 forecast.
The main exchanges increase the open interest
This increased interest in investors was higher on Gate.IO, with 23.51 % of the total open interest. This was 307.72 million ADA or 285.44 million dollars.
Binance, Bybit and Bitget followed by 22.91 %, 21.69 % and 20.68 %, respectively. Binance Exchange recorded 299.41 million Ada or 278.18 million dollars, while BYBIT 283.79 million ADA had, equivalent to $ 263.31.
Bitget has completed the first four places with a value of 270.29 million ADA, with a value of $ 251.09 million.
Distribution indicates a high confidence between ADA investors via different stock exchanges. Analysts expect that this increase in open interest may be translated into liquidity for Cardano, which can help them restore the level of one dollar price.
