ADA Futures Surge After Trump’s Crypto Reserve Move
Bitget Academy2025/03/05 06:42
By:Bitget Academy
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After President Donald Trump revealed plans to include Cardano (ADA) in a U.S. strategic cryptocurrency reserve, traders on CEX rushed to bet on ADA’s price increase. As of March 3, ADA futures nearly doubled from February’s daily average. Notably, 92% of these positions were long, signaling strong investor confidence in ADA’s future growth.
Trump’s announcement, posted on Truth Social, also mentioned adding Ripple (XRP), Solana (SOL), Bitcoin (BTC), and Ether (ETH) to the government’s crypto stockpile. The news caused a sharp price spike, with ADA gaining over 40% within 24 hours.
Cardano, launched in 2015 by Ethereum co-founder Charles Hoskinson, was once considered a strong competitor to Ethereum. However, technical setbacks have hindered its growth. Despite this, ADA’s recent surge in interest suggests renewed optimism among traders.
Source:
Cointelegraph
Futures Market Updates
BTC and ETH futures both saw declines in open interest and trading volume over the past 24 hours, with BTC experiencing a larger drop. BTC futures had higher total liquidations, with more short positions being liquidated than longs, while ETH futures saw more long liquidations. The long/short ratios for both were nearly equal, indicating a balanced market sentiment. Funding rates remained positive and similar for both assets, suggesting a slight bullish bias despite the decline in activity.
BTC Futures Updates
Total BTC Open Interest: $47.62B (-1.52%)
BTC Volume (24H): $117.58B (-29.60%)
BTC Liquidations (24H): $79.97M (Long)/$96.20M (Short)
Long/Short Ratio: 50.11%/49.89%
Funding Rate: 0.0045%
ETH Futures Updates
Total ETH Open Interest: $18.97B (-0.70%)
ETH Volume (24H): $54.79B (-20.28%)
ETH Liquidations (24H): $52.78M (Long)/$43.54M (Short)
Long/Short Ratio: 50.17%/49.83%
Funding Rate: 0.0046%
Top 3 OI Surges
KAITO: $156.28M (+114.85%)
NEIROETH: $71.68M (+110.59%)
NULS: $2.97M (+79.55%)
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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