Cardano open interest rises as ADA drops below $0.175

Traders are betting more on Cardano in the futures market again, even though the price keeps slipping. According to data from analytics firm CoinGlass, analyzed by U.Today on Tuesday, open interest in ADA futures rose 5.42 percent within 24 hours to $395.09 million. At the same time, Cardano slipped below $0.175 on Wednesday morning, November 11, 2026. What is documented: new positions are being added while the price falls, and the funding rate in the perpetual market is just below zero. Our assessment follows further down: rising open interest during a falling price mainly increases the risk of violent swings in both directions, and no bottom can be read from it yet.

On Wednesday morning ADA cost $0.1748 according to CoinGecko and €0.1572 on the Kraken exchange. That is a loss of 2.2 percent over 24 hours, 8.0 percent over seven days and 30.8 percent over 30 days. The daily low was $0.1709. With a market value of around $6.6 billion, Cardano is the 18th-largest cryptocurrency and has lost considerably more since early October than Bitcoin, which gave up around 12 percent over the same period.

Open interest at $395 million: what the CoinGlass figure measures

Open interest is the sum of all open futures contracts on a coin, measured in dollars. Every contract has a buyer and a seller, so the figure does not say whether more money is betting on a rising or a falling price. It shows how much capital is tied up in the futures market and how much leverage is in the system.