Cardano’s $1B futures open interest shows ADA is a serious contender
Cardano's Coinbase listing helped push the open interest on its futures contracts above $1 billion, a signal that investors are seriously interested in ADA. Cardano (ADA) has had an impressive start to the year as it broke through the psychological $1 barrier and made an all-time high at $1.50. The impressive 590% year-to-date gain took place as the network transformed into a multi-asset network, similar to Ethereum, and this could bode well for Cardano's future.Cardano price at Binance, USDT. Source: TradingViewThe rally's final leg seems to be related to the Coinbase Pro listing,....
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The volume on Ethereum futures flipped Bitcoin's after hitting a new record at $10 billion, and derivatives data suggests further upside for Ether price. In the past 30 days, Ether (ETH) price decoupled from Bitcoin (BTC) to post a 67.5% gain, while the leading cryptocurrency price has barely moved. Ether's $3,605 all-time high on May 5 was responsible for boosting the asset's futures open interest to $10 billion.This movement brings up some crucial questions as the dominance of Bitcoin's derivatives markets appears to be challenged at the moment. On May 4, Ether's aggregate futures....
On-chain data shows Bitcoin futures open interest has jumped up more than $1.5 billion in just a few hours as the crypto’s price breaks past $44k again. Bitcoin Futures Open Interest Adds More Than $1.5 Billion Within A Few Hours As pointed out by an analyst in a CryptoQuant post, the BTC open interest has shot up over the past day as the coin’s price has observed a surge. The “open interest” is an indicator that measures the total amount of Bitcoin futures contracts currently open on all derivatives exchanges. When the value of this metric is rising, it means more....