Cardano Futures Open Interest Surges Past $920M as ADA Eyes $1

Cardano (ADA) is showing strong market resilience as its price stabilizes around $0.75–$0.78. Despite minimal price fluctuations, the latest Coinglass data reveals a significant surge in ADA futures open interest, which has now surpassed $920 million as of May 21, 2025.

Leading crypto exchanges Bitget and Binance dominate the ADA futures market, holding $196.06 million and $192.16 million in open interest, respectively. Combined, they account for over 40% of total ADA futures positions. Bybit follows closely with $139.17 million, and Gate.io holds $125.37 million. Other platforms such as Kraken, dYdX, and BitMEX each report under $5.2 million, indicating a heavy concentration of ADA trading on top-tier exchanges.

Since May 16, open interest had been gradually declining before rebounding sharply, suggesting renewed trader activity and positioning. The relatively stable price, combined with rising open interest, points to growing market confidence and potentially bullish sentiment.

Cardano’s market cap now exceeds $26.5 billion, supported by a 3.01% daily price increase. ADA reached a high of $0.78 before slightly correcting to $0.752. Daily trading volume also spiked 57.09% to $1.05 billion, signaling intensified investor engagement.

Although the U.S. SEC continues to delay decisions on a spot ADA ETF, investor interest in Cardano remains strong. With a profile score of 75% and upward price momentum, ADA is positioning itself as a top altcoin contender. If bullish sentiment continues, the $1 milestone could be within reach. Investors are closely monitoring key exchanges, as any major shifts there could trigger broader market reactions.