Over 50% of Cardano holders are back in profit, highlighting ADA’s strong recovery and investor confidence.
Cardano’s derivatives market activity declines sharply, despite bullish sentiment from top traders on major exchanges.
Institutional investors drive $34.26B in high-value transactions, as long-term holders show unwavering confidence in Cardano.
Cardano’s (ADA) price surged, bringing substantial relief to its investors. More than 50% of ADA holders now hold profitable positions, according to IntoTheBlock. ADA recovered strongly, a pattern consistent with its history of rapid profitability increases. As of November 12, 2024, Cardano trades at $0.599. Its 24-hour trading volume is over $3.6 billion. The price dropped 4.09% recently, but the asset’s market cap is still $20.98 billion.
Derivatives Market Faces Decline
Cardano’s derivatives market slowed considerably. Trading volume fell 25.45%, and open interest declined 10.95%. Additionally, the options market saw a drastic 92.94% drop in trading volume. This indicates reduced market interest, which appears at odds with the optimism of top traders on platforms like Binance and OKX.
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