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Cardano’s Open Interest Surges 14%, Can ADA Reach $1.2?
Cardano (ADA) has been making significant progress recently, and its Open Interest has seen a remarkable surge of 14% over the past 24 hours, according to Coinglass data. As a result, the coin’s price has reached a high last seen in early June.
The spike in Cardano’s Open Interest is particularly noteworthy as it comes at a time when the broader crypto market appears to be recovering. Cardano, being the tenth-largest cryptocurrency by market capitalization, has successfully climbed 58% from its June low and is now aiming for the $1 resistance if the rally persists.
Cardano’s current price sits at $0.8575, having experienced a significant 4.45% spike in the last 24 hours. Notably, this recent surge puts the coin on track to potentially reach new highs.
Source: www.coinspeaker.com
