CandleFocus

915 Million in Open Interest, Cardano Makes Way for Big Leap

Author: Content Editor
Cardano (ADA) has seen a surge in Open Interest (OI) as its price performance remains bullish. In the last 24 hours, Cardano's OI has increased by 2.69%. This increase suggests that more traders are entering the market to purchase ADA. The heightened buying activity may be due to ADA's price increase of 10.93% in the past week and over 225% in the past month. There has also been increased trading activity across various exchanges, indicating growing confidence among investors and exchanges betting on Cardano. This rise in OI could improve liquidity for ADA. Cardano's impressive performance is reflected in its total number of transactions, which recently crossed the 100 million milestone. Additionally, the blockchain's scaling solution, Hydra, achieved 134,464 transactions per second during load testing.

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