Trading volume in open futures on the popular Cardano (ADA) cryptocurrency has increased more than 34% in the last 24 hours, according to glass coin data. According to the platform’s data, the turnover in ADA derivatives reached more than $272 million, placing the instrument in the top 15 according to this metric.
Trading volume in open futures on the popular Cardano (ADA) cryptocurrency has increased more than 34% in the last 24 hours, according to glass coin data. According to the platform’s data, the turnover in ADA derivatives reached more than $272 million, placing the instrument in the top 15 according to this metric.
Godfrey BenjaminAt the same time, similar figures were demonstrated in Cardano token transactions in the spot market. At the same time, however, the rest of the crypto market saw a drop in trading volumes on Sunday, which seems more logical.
Is Nike behind Cardano’s surge in popularity?
Cardano’s surge was likely caused by the hype surrounding a new meme coin called Nike.
However, despite the name, this cryptocurrency has nothing to do with the world-famous sports brand. Nike is the nickname of Cardano founder Charles Hoskinson’s pig, which he posted on his social media accounts last week.
Long story short, enthusiasts quickly turned Nike into a meme coin that skyrocketed over 40,000% in one week, reaching a capitalization of over $15 million at its peak. And this currency was created just six days ago.
Gamza KhanzadaevAmid the hype, many began to say that Nike would be the asset that would put Cardano back on top. In this sense, we can remember the story of BONK, which was the trigger for the rebirth of Solana (SOL) after the collapse of FTX at the end of 2022.
