Cardano (ADA) Soars 29% in Volume Amid Crypto Bloodbath

Cardano (ADA) Soars 29% in Volume Amid Crypto Bloodbath

In the last 24 hours, Cardano (ADA) saw a massive 29% increase in its futures trading volume, reaching over $500 million, CoinGlass reported. This rise reveals a strong shift towards ADA perpetual futures trading, which has outperformed the spot market. According to CoinMarketCap, Cardano’s spot trading volume on exchanges amounted to $466 million, bringing the total trading volume to almost $1 billion.

In the last 24 hours, Cardano (ADA) saw a massive 29% increase in its futures trading volume, reaching over $500 million, CoinGlass reported. This increase reveals a strong shift towards ADA perpetual futures trading, which has outperformed the spot market. According to CoinMarketCap, Cardano’s spot trading volume on exchanges amounted to $466 million, bringing the total trading volume to almost $1 billion.

Advertisement

The trend toward futures trading suggests the more speculative nature of trading with respect to long-term investing. The modest change in spot market activity supports this trend, indicating that traders were more focused on futures trading for potential short-term profits.

Related

Wed, 06/12/2024 – 15:54
Elon Musk Could Own 20% of Dogecoin Supply, Cardano Founder Suggests
HOT Stories
MicroStrategy Notes Offer to Buy Bitcoin Experiences Surprising Turnaround
MicroStrategy Notes Offer to Buy Bitcoin Experiences Surprising Turnaround
Dogecoin Nears Major Test Ahead of 45 Billion DOGE Support
Legendary trader Peter Brandt predicts pain and rise in Bitcoin price
JPMorgan Issues Major Bitcoin Warning as BTC Price Plunges

While traders were actively trading ADA futures, the crypto market was in a real storm. Positions worth almost a quarter of a billion dollars were liquidated in the last 24 hours. According to CoinGlass data, it was the bulls that were mostly “undermined” by market movements during this period, with 66% of liquidations being on long positions.

""
ADA to USD by CoinMarketCap

As always, Bitcoin and Ethereum became leaders in eliminating the deposits of especially greedy traders. As for Cardano, ADA, to a lesser extent, became an instrument with a large liquidation volume. However, according to the data, of the $400,000 in liquidated positions, $350,000, or 87.5%, went to the bulls.

Related

Wed, 06/12/2024 – 15:54
Elon Musk Could Own 20% of Dogecoin Supply, Cardano Founder Suggests

The increase in ADA derivatives trading volume amid general market chaos highlights its role in speculative trading strategies. While the broader crypto market faced challenges, Cardano futures market activity increased, highlighting continued interest in ADA during periods of uncertainty.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة