Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Cardano Forum => Topic started by: Malam90 on March 19, 2021, 04:53:58 AM
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Cardano's Coinbase listing helped push the open interest on its futures contracts above $1 billion, a signal that investors are seriously interested in ADA.
Cardano (ADA) has had an impressive start to the year as it broke through the psychological $1 barrier and made an all-time high at $1.50. The impressive 590% year-to-date gain took place as the network transformed into a multi-asset network, similar to Ethereum, and this could bode well for Cardano's future.
The rally's final leg seems to be related to the Coinbase Pro listing, announced on March 16, and this resulted in a renewed push to $1.47 on March 18.
As Cardano's price increased, so did its spot trading volume and on-chain transfers, which surpassed Litecoin (LTC). The increased interest from investors also caused Cardano's futures contracts open interest to increase by five-fold in 2021.
Make no mistake, breaking the $1 billion open interest barrier is a feat that only (BTC) and Ether (ETH) have achieved. Moreover, Ether held a $2 billion open interest just three months ago.
Therefore, to truly understand if Cardano really deserves the third position in the market capitalization ranking, one should compare its spot volume and on-chain metrics against other altcoins. Source Link (https://cointelegraph.com/news/cardano-s-1b-futures-open-interest-shows-ada-is-a-serious-contender)
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It is very clear that Cardano will become a very straightforward competitor Bitcoin,Ethereum,Binance Coin or Ripple because Cardano is very open to new investors.
I love Cardano because of the honesty of Charles Hoskinson who is always up to date and doesn't let Cardano fall into the abyss of Fud or bad news.
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If cryptocurrency already has a guarantee for future trading, it is certain that this cryptocurrency has strong competitiveness with other cryptocurrencies.
Cardano has huge funding from Charles Hoskinson and this is definitely very supportive of trading Cradano in Future, very big money for 1 Billion USD, Oh My God!