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Cardano saw a massive spike in futures activity even as the broader crypto market fell owing to selling pressure on Monday, with $874 million in liquidations.
According to CoinGlass data, Cardano surged 1,264,849.11% in futures volume on Bitmex crypto exchange. This amounted to $624.51 million in the last 24 hours, which is much higher than usual daily volume.
This comes as traders cut leverage and readjust positioning on the market.
Major cryptocurrencies saw significant losses on Monday, leading a sell-off across crypto markets, as concerns over new tariffs on European goods sparked selling on global markets.
Cardano sharply fell to a low of $0.345 early Monday, extending its drop from the prior day. At press time, ADA was down 5.56% in the last 24 hours to 0.371 and down 3.89% weekly. Its spot trading volume has likewise increased in the said period, up 187% to $1.01 billion, according to CoinMarketCap data.
Cardano (ADA) futures are set to launch on leading derivatives marketplace CME Group on Feb. 9, pending regulatory review.
What's next for ADA price?
Cardano retraced after a seemingly strong start to 2026, wherein it rose to a high of $0.437 on Jan. 6.
Digital assets had seen a promising start to the year after ending 2025 in a malaise. The gains are now almost reversed following continued profit-taking, with Cardano dropping to a low of $0.345 and returning below the daily MA 50.
Cardano rose above the daily MA 50, which had all the while limited its price action since October, but unfortunately it was not sustained. After multiple attempts, Cardano gave way beneath the daily MA 50, returning to the lower part of its trading range.
A return above this level will be watched for Cardano to regain bullish momentum, which will target the $0.50 and $0.64 resistance levels. On the other hand, support is expected at the $0.329 level.
Dan Burgin
U.Today Editorial Team
