Updated: 2026-08-09
On Sunday, the Cardano ($ADA) cryptocurrency traded in a narrow range against the backdrop of a sharp increase in activity in the futures market.
Popular analyst Ali Martinez confirmed that interest in Cardano is growing rapidly, as the trading volume of futures on $ADA increased by 380% in just one week, rising from approximately $150 million to $650 million.
Blockchain data also points to growing accumulation of tokens by large investors. According to Santiment, over the past few days, large wallets have added about 240 million $ADA, significantly increasing their balances.
Such buying activity is often interpreted as a sign of confidence in future growth, especially against the backdrop of increasing trading volumes and improving price dynamics.
During the recent rally, the crypto asset rose from $0.16 to $0.19 and then corrected slightly downward. This volatile rally was accompanied by an increase in open interest, indicating an influx of new funds into the futures market, not just the closing of existing positions.
As the cryptocurrency's price rose, the number of short position liquidations increased. A short squeeze effect provided $ADA with a climb towards the $0.20 zone.
Data from major exchanges shows a slight advantage of long positions over short ones, reflecting expectations that Cardano may make another attempt to rise.
Currently, the $0.20 area has become an important level for $ADA, and a sustained move above it could potentially open the way to higher resistance zones. An inability to hold above recent breakout levels could trigger a pullback to lower support zones.
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