Futures Corning Cardano (ADA) appeared as the fastest growing trade on Bitrue after President Donald Trump announced plans to add Altcoin to the American strategic cryptocurrency reserve, she said on March 3 cryptocurrency exchange.
According to BitRUE data, on March 3, Bitrue traders have Futures Ada contracts worth over $ 26 million, compared to an average of around $ 15 million at the end of February.
Bitrue said that among these open items almost 92% is long, which indicates the plant that the price of Ada will augment.
“As a result of all this increased interest in Ada/USDT [has] become the fastest growing commercial couple in Futures, “said the We -Mail exchange.
Bitrue is a stock exchange for digital assets and cryptographic futures. Futures are normalized contracts representing a contract for the purchase or sale of assets at the next time.
Notional value of Futures Ada. Source: Bitrue
Related: Ada, Sol, XRP Rally after the Trump’s cryptographic reserve is announced
In a post of March 2 on social truth, Trump said that he told the working group for the digital assets of his administration to include XRP (XRP), Solana (SOL) and ADA in the Cryptographic action of the US government.
Later he added Bitcoin (BTC) and Ether (ETH) to this list, stating that they would be in “Heart of the Reserve”. Trump advertised the plans of the American strategic cryptographic reserve since mid -2012, but he had never committed to adding Ada to action before.
The announcement caused a temporary increase in the price of each cryptocurrencies mentioned by Trump in his position, but had the greatest impact on ADA, which gained over 40% within the first 24 hours after Trump’s announcement.
Long/short attitude for ADA term contracts. Source: Bitrue
Letghing layer-1
Cardano, created by the co -founder of Ethereum, Charles Hoskinson in 2015, was initially considered to be serious competitors of Ethereum.
However, performance problems and delays in production meant that blockchain was wasted, along with the price of his native ADA token.
The fully diluted cryptocurrency valuation is less than $ 40 billion, compared to over $ 260 billion for ether, According to For data from Coingecko.
The chain has a total blocked value (TVL) of about $ 440 million, compared to over $ 50 billion for the Ethereum network, According to To Donnela.
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