Cardano has skyrocketed 10,327% in futures volume as the derivatives market faces a quiet reset.
According to CoinGlass data, Cardano futures volume rose 10,327% on the Bitmex crypto exchange in the last 24 hours to $119.67 million.
This comes amid a drop in total volumes across the derivatives market, falling 30% in the last 24 hours, according to CoinGlass data. Cardano’s open interest has dropped 2.4% in the past day, reaching $646 million.
The ADA price was likewise down in this time frame, falling 0.97% to $0.36 and down 8.15% weekly. The current setup hints at a reset as leverage gets flushed out of the market.
The crypto market is largely trading in the red, as gains in equities and a weaker U.S. dollar failed to translate into a sustained rise for crypto after a volatile week.
Most major cryptocurrencies remain down between 7% and 12% over the past week, indicating that sentiment on the crypto market remains fragile.
Cardano four-hour death cross appears
Cardano has just completed a death cross, the first such signal in the year 2026. The four-hour MA 50 has fallen below the MA 200, confirming a death cross. The last time such appeared on the four-hour chart was in December 2025.
Momentum indicators are suggesting the likelihood of sideways trading action, with the RSI slightly below 50 on most time frames. If the market recovers, ADA might target the $0.39 level ahead of $0.5 and $0.6. Support is expected at $0.33 if the price drops further.
In other news, total transactions on the Cardano mainnet have surpassed 118,400,990.
Cardano founder Charles Hoskinson, Midnight Foundation President Fahmi Syed, Cardano Foundation CTO Giorgio Zinetti and CEO of Emurgo Phillip Pon are set to participate in a Cardano spotlight panel at the upcoming Consensus 2026 event.