$794,290,000 ADA in 24 Hours: Cardano Eyes Reset in Quiet Market Trading

Cardano is trading quietly in the market, with its open interest slightly rising in the last 24 hours.

ADA trading volumes are lower, falling nearly 38%. Traders are signalling lower activity as trading volumes in the last 24 hours fell 37.56% to $264.44 billion, according to CoinMarketCap data.

Cardano’s open interest came to $794.54 million, according to CoinGlass data, representing a 0.25% increase in the last 24 hours.

Open interest refers to the total number of outstanding futures or options contracts in the market. It might reflect participation and liquidity in the markets.

Cardano signals quiet reset

Cardano reversed a strong run at the start of 2026 alongside the rest of the crypto market. After reaching a high of $0.437 on Jan. 6, Cardano began to decline, marking five days of drop since this date.

The price drop across the market this week was not only accompanied by increased liquidations, but also coincided with a move that saw the options markets de-risk aggressively, with open interest falling. Along these lines, Cardano saw its open interest fall, creating an unwind.

The slight increase in open interest after days of drop might signal a reset, albeit a quiet one as volumes drop.

The chances of consolidation remain in the short term, given that the market just cleared a lot of leverage.

Cardano has traded in a broad range between $0.33 and $0.483 since late November. A strong move for Cardano might begin above the resistance of the range at $0.483, which might target the $0.65 level (the daily MA 200) next.

In positive news for Cardano, Leios might be journeying its way toward mainnet launch. IOG’s public Leios tracker shows the Cardano Improvement Proposal is 67% complete, and delivery work is actively progressing across specifications, simulations and implementation.

Expectations are also in place for the first Cardano spot ETF in the U.S. as Grayscale’s spot Cardano remains under SEC review, with a decision now expected in early 2026.