Futures traders are increasingly coming into Cardano (ADA) after the former U.S. President Donald Trump’s signal of adding it to a U.S. strategic crypto reserve. This has resulted in a massive increase in ADA futures trading on Bitrue. Traders are also very much positive towards the price as expecting that it will rise soon.
ADA Futures Trading Soars
According to Bitrue, the total notional value of ADA futures on the platform has jumped to over $26 million, up from an average of $15 million in late February. Even more telling, 92% of these positions are long, meaning traders are betting on ADA’s price increasing.
Bitrue, a well-known crypto exchange for spot trading and futures, stated that ADA/USDT is now its fastest-growing trading pair in futures. This increase came after Trump’s announcement on March 2, where he directed his administration’s digital assets working group to include ADA, XRP, and Solana in a government crypto stockpile. Later, Bitcoin and Ether were also added to the list.
Following this news, ADA’s price surged more than 40% in the first 24 hours, making it the biggest mover among the cryptocurrencies mentioned.
Notional value of ADA futures. Source: Bitrue
Cardano’s Problems and Potential Future
Did Trump just pull an insider trading move?
— krp (@krpisoweb3) March 4, 2025
Again?
Donald Trump made a shocking crypto announcement.
He revealed plans for a U.S. crypto reserve, aiming to make the country the crypto capital of the world.
But here's the twist 👇 pic.twitter.com/hS0OjQH0FH
Cardano was created by Charles Hoskinson, a co-founder of Ethereum, and was once considered Ethereum’s largest rival. The project has been delayed and beset by technical issues, however, and has developed more slowly as a consequence.
Relative to Ethereum, Cardano’s market cap is significantly lower. Its fully diluted value is under $40 billion, whereas Ethereum is over $260 billion, based on CoinGecko figures. Cardano’s TVL is approx $440 million, significantly behind Ethereum’s $50 billion, based on DefiLlama figures.
So, with all these hurdles, Trump’s support has sparked a new interest in ADA, and now investors are keeping a close eye to see if this buzz can help boost the cryptocurrency’s value in the long run.
