Cardano saw a surge in futures activity even as ADA price tested a crucial support level amid the ongoing price drop in the markets.
The broader crypto market saw selling pressure on Wednesday amid increased risk-off sentiment among traders. U.S. equities also fell alongside the Nasdaq 100 futures. A total of $465 million was liquidated in positions across the crypto market, with longs accounting for over half of this figure.
Amid the market drop, Cardano futures volume has risen 25,084% on the Bitmex exchange to reach $162 million in the last 24 hours, according to CoinGlass data.
Cardano tests $0.4
At the time of writing, Cardano (ADA) was down 4.60% in the last 24 hours to $0.40 amid the current market drop, but up 17% weekly.
ADA/USD Daily Chart, Courtesy: TradingViewCardano started rising from a low of $0.331 on Jan. 1. The sustained rise produced a crucial breakout for Cardano, allowing it to surpass the daily MA 50 (currently at $0.40) for the first time since October.
The cryptocurrency rose to a high of $0.437 after four days of increases at 2026’s start, but resistance was encountered and ADA price promptly declined.
In a second day of drop since Tuesday, Cardano is testing support at the $0.4 level, which coincides with the daily MA 50, having touched this level in early Wednesday session. If the daily MA 50 can act as short-term support, it will boost the chances of ADA continuing its price climb.
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 specs, 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.
Source: https://u.today/cardano-jumps-25084-in-wild-activity-surge-as-ada-price-tests-04
