Cardano Rockets 10,654% in Derivatives Market Volume, Hidden Price Signal?

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 is seeing an increase in volumes in the derivatives market, with the market now watching for what comes next for ADA's price . Advertisement According to CoinGlass data, Cardano has increased 10,654.62% in futures volume on the Bitmex exchange, reaching $40.04 million. This suggests increased activity in the derivatives market, given that Bitmex is a major crypto derivatives exchange. This coincides with Cardano approaching a key milestone in the derivative markets. HOT Stories U.Today Crypto Market Review: Fake Bitcoin (BTC) Breakthrough; Shiba Inu (SHIB): Third Time's a Charm; XRP: 3 Price Waves U.Today Crypto Digest: Shiba Inu (SHIB) Has Chance for Recovery, Dogecoin (DOGE) Price Eyes 22% Rebound, XRP Bull Run Imminent, According to Bollinger Bands Samourai Bitcoin to Stay in Strategic Reserve Morning Crypto Report: Say Goodbye to 1.21% of All XRP, Shiba Inu (SHIB) Confirms Golden Cross: 23% Rally Expected, Cardano Price Prints Legendary Bull Pattern: ADA Next Silver? This week, the world's leading derivatives marketplace CME Group revealed plans to include Cardano futures in its lineup come Feb. 9, pending regulatory review. Advertisement Market participants will have the choice to trade both micro-sized and larger-sized contracts. In the case of Cardano, it will include ADA futures (100,000 ADA) and Micro ADA futures (10,000 ADA). Cardano joins CME Group's cryptocurrency product suite, which includes Bitcoin, Ethereum, XRP and Solana futures and options on futures. Hidden price signal? The surge in futures volume remains significant as leverage resets and capital rotates selectively across the market, benefiting crypto assets with clear institutional flow signals. Advertisement Cardano's open interest has slightly rebounded following a drop in the past day, up 0.12% in the last 24 hours to $792.57 million. Following two days of drop since Jan. 14, Cardano rebounded from a low of $0.379 on Friday, sustaining gains in the early Saturday session. At the time of writing, ADA was up 1.00% in the last 24 hours to $0.395 and up 1.16% weekly. The first sign of strength will be a break and close above the $0.4378 high. Cardano's price may then eye $0.50, where bears are expected to pose a strong defense. On the other hand, if ADA's price drops further, there is minor support at $0.38, but if the level falters, Cardano may slide toward $0.33. Buyers are expected to aggressively defend the $0.33 level, as a break below it may take Cardano's price to the Oct. 10 low of $0.27. #Cardano News #Cardano