The Future of Cardano

Cardano's open interest data provided by Coinglass revealed an increase in cash inflows into the cryptocurrency over the past week. Data revealed that open interest exceeded $588 million on March 5.

At the same time, this situation stood out as the highest open interest observed for ADA in more than a year. As of press time, Open Interest was hovering above the $507 million level.

When the mentioned open interest metric was examined, taking into account other fundamental indicators analyzed previously, it revealed that Cardano was likely to rise to the $1 price level due to a possible market movement.

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