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Cardano (ADA), in the last 72 hours, witnessed intense price fluctuations. It is worth noting, after the failure of the ninth currency, according to the market value in violation of the psychological level one dollar, decreased to a decrease of $ 0.8725. ADA soon regained, and since the distinctive symbol has been re -tested for the $ 0.9 level, Cardano merchants committed 1.28 billion ADA at open interest (OI).
Cardano open interest signals
Data from Coinglass A 1.87 % increase in OI of merchants has been revealed in the past 24 hours. This paid the value of the open interest in Ada to $ 1.23 billion. It is worth noting that this number indicates new confidence from Kardano investors in the market.
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This simple increase shows that more traders invest in Ada and are confident of future expectations for the price of the digital currency.
Four exchanges of encryption various important strands in the wider market recorded. It includes Gate.io, Binance, Bybit and Bitget. All the four stocks were in a range of $ 200 million.
It is worth noting that Gate.io led $ 296.51 million, or 307.51 million ADA, committed by future traders. This represents 24.16 % of ADA's cumulative open interest.
Binance, Bybit and Bitget followed, at 275.94 million dollars, 265.73 million dollars and 251.46 million dollars, respectively. In this arrangement, this represents 22.49 %, 21.65 % and 20.49 %. These four exchanges constituted the largest part of OI, which is more than 88 % of all encryption exchanges.
Can Ada restore $ 1 in the current bounce?
Meanwhile, to the writing of these lines, the price of Ada was Trading 5.18 % at $ 0.9588 in the last 24 hours. The original increased from a decrease in the price of 0.8967 dollars to its current levels, as it seeks to do so Restore the price sign of $ 1. Although it reached $ 0.9671 in the previous trading, market fluctuations have affected it slightly.
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Analysts expect that if Cardano records more sustainable attention than investors, the currency may violate the level of resistance that it struggled to stay higher in the past seven days. Investors still focus on whether ADA will turn the price in this counted step.
Some industry activities, such as presentation The "Double Daily Return" box may support the exchange of Porano, the assets that bring the assets to higher levels.
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