Markets· ★★★· neutral·

Santiment: Cardano Rally Drew Fresh Leverage, Not Just Short Covering

  • —ADA open interest rose to $304 million by Oct. 5, the highest since early April
  • —Dollar OI gained about 25% from Oct. 3 to Oct. 5; ADA-denominated OI rose roughly 13%
  • —ADA climbed about 11% over two days, from $0.244 to $0.270
  • —413 transactions of at least $100,000 were recorded on Oct. 5, 2.2x the weekday average
Why it matters: Rising leverage can amplify both further upside and a sharp unwind if ADA reverses.
#ADA
Source: The Crypto Basic
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