37,655% Jump in Cardano Activity as Open Interest Rises, What's Next?
Analysis
Price Impact
HighCardano (ada) saw a 37,655% surge in futures volume and a 10.93% rise in open interest, indicating significant leverage buying. this was coupled with positive network developments like a 70m ada treasury withdrawal approval and the launch of the night token, contributing to an 11% daily price jump.
Trustworthiness
HighInformation is sourced from u.today, cites coinglass data, and refers to a confirmed cardano community governance vote, providing a solid foundation for the analysis.
Price Direction
BullishThe significant increase in futures activity and open interest, combined with positive fundamental developments in the cardano ecosystem, suggests strong buying pressure. ada has outperformed peers, indicating sustained bullish sentiment ahead of the fed decision.
Time Effect
ShortThe immediate price jump and futures market activity are in response to recent news and anticipation of the fed decision. the impact is likely to be felt in the coming days, though long-term effects depend on sustained adoption and market sentiment post-fed.
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Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Cardano saw a significant 37,655% activity surge on the futures market as traders positioned ahead of one of the most consequential Federal Reserve decisions of the year. Advertisement The Fed policy decision is awaited today, Dec. 10. Investors will look for clues as to the Fed’s policy path at today's Fed meeting, as well as the tone of Chair Jerome Powell’s final press conference of 2025. Ahead of this macro signal, the broader crypto market is trading higher, with most coins in the green. HOT Stories Morning Crypto Report: XRP Ready to Unlock Solana, Shiba Inu (SHIB) Rockets 30% in Volume, SpaceX Moves $100 Million in Bitcoin While Elon Musk Stays Silent Saylor’s 'Buy Every Bitcoin' Strategy Mocked by Schiff XRP Gets Institutional Boost with Flagship Index Crypto Market Prediction: Enormous Shiba Inu (SHIB) Divergence Printed, Ethereum (ETH) Scorching Local Resistance, Is XRP Downtrend Ending? Cardano outperformed the rest of the top 10 cryptocurrencies, with an 11% jump on the day. The coin is up nearly 7% for the week, with Ethereum only ahead with a 9.06% gain. Advertisement Amid the price surge, Cardano has increased 37,655% in futures volume on the Bitmex crypto exchange to surpass $105.65 million traded in the last 24 hours. Cardano's open interest (OI), which refers to the total number of outstanding futures or options contracts on the market, has risen in tandem. According to CoinGlass data, Cardano's OI has risen 10.93% to $813.70 million, indicating that the recent price surge was supported by leverage buying. Advertisement Cardano boosted by network developments Cardano has steadily risen since Dec. 7, as expectations of positive developments in its ecosystem grew. Tuesday's surge was the largest, with Cardano increasing from $0.423 to $0.489. A 70 million ADA treasury withdrawal has been approved by the Cardano community to fund infrastructure integrations, marking a historic coordinated effort for the network. The budget proposal gained over 71% support in a governance vote, marking the fastest approval since Cardano's governance began. NIGHT, the network's native token, officially launched as a Cardano Native Asset (CNA) on Dec. 4, with plans now to transition the Midnight network into a fully decentralized mainnet. #Cardano News #Cardano #Cardano Price Prediction