- Cardano remains tenth on the list of market capitalization.
- As of the time of writing, it was an increase less than 1%.
Cardano [ADA] Recently, it dropped out of the top ten cryptocurrencies by market capitalization. Its derivatives market is still strong with recent increases in open interest and trading volume.
Cardano metrics remain positive
Analysis of Cardano Derivative metrics Coinglass There were slight gains. At the time this article was written, it appeared that volume had increased to about $280.7 millions.
The volume of the 4th of June’s trading was approximately $270 millions, an increase of more than $10 million over the previous 24 hours.
Open Interest also increased, indicating a greater inflow of cash from investors into ADA. The movement of the price is often interpreted as a positive signal by investors, who expect a future change.
The funding rate was approximately 0.106% at the time of writing. This indicates a positive development. Although not the highest it has ever been, this funding rate indicates there are currently more sellers than buyers.
The general feeling is that a future increase in prices will be a good thing.
Cardano ranks 10th on the market in terms of capitalization
The Data of CoinMarketCap The following is a list of the most recent shows that Cardano The market cap of remained around $16.5 billion at the time this article was written.
Toncoin was in the second position, but now occupies the ninth spot with a total market cap of over $17 billion.
ADA fell to tenth in market capitalization as TON’s price spike was greater than ADA could match.
The graph showed a TON increase of over 12% within the past week, while ADA was only up by less than 1%.
ADA sees positive trends
Analysis of Cardano’s The price movement on a day-to-day basis showed positive trends over the last few days. Cardano traded for $0.45 on 3rd July, an increase of 2.46%. Cardano was currently trading around $0.46 at the time of writing. This represents a decrease by less than 1%.
Although the trend is upward, it hasn’t yet crossed above the short term moving average (yellow lines), which serves as the current resistance.
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The analysis shows that, if Cardano is able to break through the immediate opposition (yellow lines), then the next The long-term moving (blue) line is around $0.50.
Cardano’s market cap is likely to increase if it surpasses this level, which will allow it to regain its former position on the rankings of market capitalization.
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Source: ambcrypto.com