Cardano (ADA) Open Interest Hits $900M Amid Crypto Market Volatility

Cardano (ADA) Futures Market Sees Stable Prices and Shifting Open Interest

The latest Coinglass data for the Cardano (ADA) futures market shows ADA's price holding steady around $0.78, while open interest across exchanges has undergone significant changes.

As of May 21, 2025, total open interest exceeds $920 million. The Coinglass chart reveals a gradual decline in ADA open interest since May 16 before the recent uptick. Exchange distribution of ADA futures positions varies widely:

• Bitget and Binance lead with $196.06 million and $192.16 million respectively, representing over 40% of total ADA futures positions
• Bybit follows with $139.17 million, while Gate.io ranks fourth at $125.37 million
• Smaller exchanges like Kraken, dYdX, and BitMEX each hold less than $5.2 million in ADA open interest

The concentration of trading activity on major platforms means significant developments on these exchanges could impact the broader market. Despite open interest fluctuations, ADA's price stability over the past five days suggests consistent market sentiment.

Currently trading at $0.752 (up 3.01% in 24 hours), ADA boasts a $26.58 billion market cap with $1.05 billion in daily trading volume - a 57.09% increase. While daily charts show volatility, the overall trend remains upward.

Cardano's 75% profile score may be bolstering investor confidence in the project's fundamentals. Despite SEC delays in approving spot ADA ETFs (along with other non-BTC/ETH crypto ETFs), interest in Cardano continues growing. As Bloomberg analyst James Seyffart predicted, the SEC has postponed decisions on XRP ETPs and other crypto ETFs.