CoinGlass data showed Cardano (ADA) derivatives open interest at $620.55M on Jan. 30, with ADA near $0.3265, down about 5% over the prior 24 hours.
The same dashboard put ADA futures volume at $1.50B for the last 24 hours versus spot volume of $196.82M, with market cap around $11.70B. In market-structure terms, softer open interest points to a leverage reset, which can tighten execution conditions for derivatives traders and liquidity takers until positioning rebuilds.
Next, operators will monitor whether open interest stabilizes or continues to bleed, alongside shifts in CoinGlass funding and liquidation indicators as the tape digests the move.
Source: CoinGlass.
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