Cardano Derivatives Market Fires Up As Futures Open Interest Explodes, A Rall...
In the past few days, Cardano (ADA) has showcased notable bullish action even while many other cryptocurrency assets faced bearish pressure and had their rallies cut short. Following its upward performance, several metrics of Cardano are starting to turn bullish and reaching levels not seen in a long time. Explosive Growth In Cardano Futures Open […]
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XRP Open interest on the CME Group has reached a new all-time high (ATH), presenting a bullish outlook for the altcoin. This further underscores the massive demand for XRP exposure among institutional investors, which could serve as a catalyst for higher prices. CME XRP Futures Open Interest Hit News ATH In an X post, the CME Group revealed that the XRP futures have hit an all-time high in open interest with over 6,000 contracts on August 18, just before their three-month anniversary. The derivatives platform further remarked that this development is a clear sign of growing conviction in....
The open interest for ADA futures rose to $580 million, flipping Litecoin to become the third-largest derivatives market. On Feb. 3, Cardano conducted a hard fork and successfully integrated the Mary upgrade to the testnet, transforming the blockchain into a multiasset network similar to Ethereum.This event seems to be one of the reasons for the impressive 475% year-to-date rally of ADA, and the altcoin is now causing unexpected ripples in the derivatives markets. Since the end of December 2020, ADA's $81-million aggregate futures open interest hiked to the current $580 million, becoming....
ADA's price crashed the last time its futures open interest reached $1 billion, leading traders to question whether or not it is about to happen again. The impressive 816% gain of Cardano's ADA coin in 2021 catapulted the smart contract platform's market capitalization to $61 billion. To fully grasp how far this third-generation protocol has gone, the absolute leader, Ether (ETH), held the same valuation just six months ago.As AD's price evolves, so do its derivatives markets, and the nearly $1 billion in futures open interest poses both an opportunity and a threat for the price. Cautious....
Roughly 247 days ago, the total bitcoin futures open interest across 12 different cryptocurrency derivatives trading platforms was $26.73 billion and over the last eight months, bitcoin futures open interest has dropped 60% down to $10.69 billion. Further, the bitcoin exchange-traded funds BITO and BTF have followed bitcoin’s spot market losses, as the bitcoin ETFs have shed between 70% and more than 73% in value since last year’s price highs.
Bitcoin Exchange Traded Funds Slide Over 70% in Value Against the US Dollar
On November 10, 2021, the crypto....
Positive news regarding the SEC lawsuit saw XRP price rally above $1 and its futures open interest to reach an all-time high. XRP price's journey to $1 this year has been nothing short of spectacular, considering the ongoing Securities and Exchange Commission's lawsuit against Ripple initiated in December 2020. The regulator alleges that XRP was a $1.3 billion unregistered securities offering and both CEO Brad Garlinghouse and co-founder Christian Larsen are also in the crosshairs.On April 6, Ripple Labs was granted access to the U.S. SEC's documents "expressing the agency's interpretation....