Cardano recorded a 6% increase in futures open interest on November 8, showing higher ADA price activity and confidence.
Data from Coinglass points to strong participation from major exchanges, while analysts discuss its growing appeal among institutions and ETF prospects.
Cardano Open Interest Shows Strong Uptick
It is worth mentioning that Cardano open interest grew by 6% to reach $709.91 million, according to Coinglass data.
The total amount stood at 1.23 billion ADA across 18 trading platforms. This rise shows that more traders are opening and holding positions in ADA futures, a sign of stronger engagement in the market.
Gate.io ranked first with 367.14 million ADA in open contracts, holding about 29.75% of the total.
Binance followed with 232.87 million ADA, making up 18.88%. Bybit came next with 187.74 million ADA or 15.22%. Other exchanges such as OKX, Bitget, and KuCoin also reported higher positions.
In shorter time frames, open interest moved higher as well. Within four hours, total OI rose by 0.77%.
Gate.io saw a 3.10% increase, while Bitget posted a 4.69% rise. This steady growth suggests that both retail and institutional traders are taking new positions.
Cardano’s price stood at $0.5758 after gaining 9.6% in 24 hours.
When open interest rises alongside price, it often points to fresh money entering the market rather than traders closing old positions.
This can be seen as a positive sign for the short term. The increase also reflects growing interest in ADA price as the broader market shows early signs of recovery.
The rise in trading activity across multiple platforms indicates that traders are preparing for potential volatility in the weeks ahead.
Dan Gambardello Emphasizes Cardano’s Lasting Strength
Crypto analyst Dan Gambardello spoke about why he believes Cardano remains one of the strongest blockchain projects.
He pointed out that the network has been running for eight years without a single security breach or major failure.
Gambardello explained that Cardano’s structure cannot easily be copied. It has been peer-reviewed from the start and has one of the most decentralized setups in the industry.
This is supported by thousands of stake pools, a structure that gives the network reliability that few others have achieved.
He also highlighted the community, which has stayed active through many market cycles.
The long-term participation of developers and supporters has helped maintain the network’s progress even during quiet periods.
According to him, these factors make Cardano appealing for investors who prefer stability and trust over short-term speculation.
ADA Price Amid ETF Potential and Institutional Confidence
Another voice in the discussion, Linda said Cardano might become a strong player in the institutional ETF space.
In her recent video on X, she explained that while Solana is currently ahead in the ETF race.
Cardano’s focus on compliance and reliability could make it attractive to large investors in the future.
Linda noted that Cardano has operated for years without any sustained chain stops, hacks, or reboots.
Its governance model and transparent code are designed to meet expected regulatory standards.
She also pointed out that ADA is already part of Grayscale’s Digital Large Cap Fund, which gives institutions indirect access through a regulated product.
This means that some large investors already have exposure to ADA price. Linda believes the next market cycle will be shaped more by institutions than by retail traders.
In her view, when long-term investors such as pension funds and endowments begin to allocate capital to crypto, they will look for projects that have proven reliability.
The project’s steady record and careful development approach could make it one of those preferred options.
Cardano’s recent increase in open interest supports this view, as traders position themselves ahead of possible larger moves.