Cardano (ADA) Price Alert: Open Contract Positions Plummet, $0.25 Could Be the Critical Threshold
February 10 News, Cardano (ADA) has recently continued to weaken and has fallen out of the top ten in cryptocurrency market capitalization. Over the past 24 hours, it has dropped 3.8%, with weekly declines expanding to 10.7%, and the latest price is approximately $0.26. As Bitcoin falls below $70,000, market risk appetite has significantly cooled, and ADA has also lost the important $0.30 level, with short-term pressure intensifying.
Derivatives data has become an important signal of this round of decline. Joao Wedson, CEO of Alphractal, pointed out that the open interest structure of ADA has undergone dramatic changes in the past three years. In 2023, a single platform once accounted for about 80% of open interest, but by 2026, this proportion has dropped to 22%. Historical experience shows that when contract concentration decreases and distribution becomes too dispersed, it often weakens upward price momentum. A similar situation occurred at Solana's cycle turning point, where the price rally slowed down. Currently, the scale of ADA's open interest has also plummeted from a high of $1.6 billion to about $334 million, indicating a clear decline in speculative activity.