Cardano remains bullish in derivatives despite market shift

📆 05/06/2024 14:38:00
📰 CryptoAmb

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Some of Cardano's key derivative metrics have remained positive in the last few days despite its poor price trend.

recently dropped from its position as the ninth-largest cryptocurrency by market cap. However, its derivatives market remains strong, with a slight increase in trading volume and open interest observed recently.By the end of trading on 4th June, the volume was around $270 million, reflecting an increase of over $10 million in the past 24 hours.Additionally, the increase in volume was mirrored in the Open Interest, indicating more cash flowing into ADA from investors.

ADA dropped to tenth place in the market capitalization rankings as TON experienced a price surge that ADA couldn’t match.

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