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Cardano (ADA) Price Up 5% As Bulls Become Active Again
In a surprising turn of events, the price of Cardano (ADA) has experienced a significant surge of 5%, leaving many in the crypto community scratching their heads. While this sudden increase may have caught some investors off guard, there are several reasons that could be driving this upward trend.
One reason for this sudden shift is the massive open interest in ADA, reaching an astonishing 1.28 billion dollars. This substantial increase is a testament to the trust and confidence that investors have in Cardano’s protocol and its future development. Notably, it represents a 1.87% increase in OI among Cardano’s investors, demonstrating their unwavering faith in the platform.
This significant growth in open interest can be attributed to a myriad of factors, including the impending Plomin hard fork. The upcoming event has garnered immense attention from the crypto community, leading many to take positions in anticipation of its release.
Source: u.today
