Overview
- ADA trades around $0.26–$0.27 with a market capitalization near $9.6 billion, far below its 2021 peak above $3.
- Open interest in Cardano derivatives plunged from about $1.6 billion to roughly $334 million following a broad leveraged unwind, according to market analysis reported by Bitcoinist.
- Exchange concentration has flipped, with Binance’s share of ADA open interest near 22% and Gate.io around 31%, a structure that historically weakens altcoin momentum when leverage is fragmented.
- Regulated access widened with a CME-listed futures product, yet prices have not stabilized and trading activity remains cooled compared with prior peaks.
- Technical gauges show oversold conditions with RSI near 28 and a key support zone flagged around $0.2212, with analysts warning that a break lower could open further downside.