Cardano Futures Volume Jumps 27631% As Traders Watch ADA Price Near

TLDR

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Cardano futures volume surged 27631 percent on BitMEX, reaching $47.64 million in 24 hours.
ADA open interest rose nearly 2 percent to about $790 million after declining the prior day.
ADA price traded near $0.388 after falling back below the daily 50 day moving average.
Cardano hit a January high of $0.4374 before recording multiple consecutive daily declines.

Cardano drew fresh market attention after futures trading activity surged sharply within a single day. Data showed a dramatic rise in derivatives volume, while price action stayed mixed. The contrast between futures interest and spot movement has prompted renewed discussion around ADA’s near-term direction. Traders are watching whether this activity reflects short-term positioning or signals broader momentum across the Cardano market.

Cardano Futures Activity Spikes on BitMEX

Cardano futures volume recorded a 27,631.45% increase over the last 24 hours on the BitMEX exchange. According to CoinGlass data, the surge pushed trading volume to $47.64 million during the period.

The rise occurred alongside a moderate increase in open interest. Open interest climbed nearly 2% to $790.3 million after declining the previous day. This metric reflects the total number of active futures contracts that remain unsettled.

An increase in both volume and open interest suggests that new positions entered the market. This pattern often points to traders opening fresh contracts rather than closing existing ones. However, the data does not indicate whether positions were largely long or short.

ADA Price Action Remains Cautious

Despite the futures activity, Cardano’s spot price showed limited upside. At the time of writing, ADA traded around $0.388, down 0.34% over 24 hours. The token remained up 0.45% on a weekly basis.

Earlier in January, Cardano posted a notable rally. ADA reached a local high of $0.4374 on Jan. 6. That move allowed the price to break above the daily 50-day moving average near $0.40.

The move above the 50-day average proved brief. Cardano later slipped back below the level and recorded four straight daily declines. If losses continue, it would mark a fifth consecutive down session.

Liquidity Conditions Shape Short-Term Trends

Market participants continue to monitor liquidity across the altcoin sector. Liquidity remains thinner compared to earlier periods in the cycle. This follows a major liquidation event in October that erased nearly $20 billion in leveraged positions.

Lower liquidity can amplify price swings in both directions. It can also limit follow-through after sharp moves. This environment may explain why ADA failed to hold above key technical levels.

If broader market sentiment improves, traders will watch the $0.40 level closely. A sustained move above the daily 50-day average could change short-term structure. Price action near this level remains a key reference point.

Cardano Targets and Governance Update

If buying pressure strengthens, ADA may attempt to retest higher resistance zones. Market data shows $0.65 as a notable level from prior trading ranges. A move toward that area would require improved volume and stable liquidity.

Beyond price action, Cardano’s governance framework also saw a recent update. A proposal submitted under the Cardano Constitution introduced a Net Change Limit. The proposal defines how much ADA can be withdrawn from the treasury over a set period.

The Net Change Limit is set at 350,000,000,000,000 lovelace, equal to 350 million ADA. This figure represents the maximum allowed treasury withdrawal during the specified timeframe. The proposal states that the limit must not be exceeded.

The governance update arrives as traders assess both market data and network developments. Futures activity remains elevated, while price trends stay cautious. Whether derivatives interest translates into spot momentum remains under observation.