
**$1,260,000,000 Locked in Cardano Open Interest, But There’s a Catch**
Over the past 24 hours, Cardano (ADA) has experienced an impressive price increase, reaching an intraday peak of $0.7542. The sudden surge has caught the attention of investors, who have collectively committed a staggering $1,260 billion worth of ADA to the futures market. This extraordinary level of open interest is a development that could potentially lead to upward price movement and possibly even push Cardano toward reaching its previous all-time high at around the $1 mark.
According to CoinGlass data, this immense amount translates to approximately 1,680,000,000 ADA units locked in the ecosystem. Although ADA’s market participants are optimistic about a potential upswing, there is, however, a critical aspect worth considering.
Source: u.today