Cardano Price, Cardano (ADA) has had an interesting 24 hours. Its price went up by almost 9% after dropping 7% just a few days ago.
Cardano (ADA) has demonstrated impressive resilience in the face of market volatility, with its price surging by nearly 9% within a span of just 24 hours. After a 7% drop earlier this week, Cardano price seems to be recovering. As of now, Cardano is trading at around $1, and its market value has risen by over 8%, reaching $35.15 billion. What’s behind this surge, and what’s next for the Cardano price? Let’s take a closer look.
Cardano Price Shows Resilience Amid Market Volatility
Cardano price has been very volatile this past week. Sharp price changes were caused by market mood, whale activity, and overall trends. Even though it dropped 7% recently, Cardano price quickly bounced back with a 9% recovery in just 24 hours. This shows strength in the market.
Right now Cardano is trading at $1, which is a strong recovery from when the price dropped below $0.92. This quick rebound shows how market changes and the actions of big players, like whales, have an impact.
Cardano Price Drop Linked to Large-Scale Sell-Off by Whales
Recent changes in the Cardano market were mainly driven by big investors, or whales. Analyst Ali Martinez says these whales’ sell-off caused the recent price drop. In just 48 hours, whales sold over 70 million ADA tokens. This increased selling pressure and led to the price falling.
The sharp sell-off seems to have slowed down in recent days. Whale holdings have been steadily decreasing since December 19, 2024. The biggest drop happened on January 7, 2025, which caused the price to dip to its lowest point of $0.9146.
As the selling pressure eases and the number of large holders diminishes, Cardano price has found some stability. The key support levels around $0.90–$0.92 remain in play, suggesting that the market could enter a consolidation phase if the downward momentum halts.
Market Metrics and Performance
In the last 24 hours Cardano price has risen from $0.91 to $1. Its market value grew by over 8%, reaching $35.15 billion. Trading volume is up by 13.50%, showing more investor interest. However, in the past week, ADA dropped by 4.85%. This shows there are still challenges in the market, despite the recent gains.
A big reason for the recovery is a new partnership between the Cardano Foundation and FC Barcelona. CEO Frederik Gregaard shared the news on social media. This has given a positive boost to Cardano price. However, the market dynamics are still affected by Cardano’s high circulating supply of 35.15 billion ADA tokens, out of a total of 45 billion, which could limit price appreciation if demand does not match supply.
Open Interest and Speculative Activity
Another key indicator of market sentiment is the open interest in Cardano’s derivatives market. Cardano’s open interest is currently $565.7 million, with most of it coming from perpetual contracts ($562.7 million). This has risen by 10.22% in the last 24 hours, showing more speculative trading activity.
Bybit holds the largest share of ADA open interest, with $273.35 million, while Binance follows closely with $266.88 million. Other exchanges like OKX and Huobi have relatively lower open interest, which suggests that ADA’s liquidity is primarily concentrated on a few platforms.
The increase in open interest points to a surge in speculative trading, with traders reacting to short-term market movements rather than holding for the long term. This could mean more price swings, as traders might quickly close their positions if the market changes.
In conclusion, Cardano’s price has demonstrated significant resilience, bouncing back with a 9% surge in just 24 hours following a 7% drop earlier in the week. Despite market volatility and large-scale sell-offs by whales, ADA has managed to stabilize around the $1 mark, reflecting renewed investor interest and a positive market sentiment, partly fueled by the Cardano Foundation’s new partnership with FC Barcelona. With increasing open interest in its derivatives market, Cardano price may continue to experience volatility, but the outlook remains cautiously optimistic if support levels hold.
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