Conclusion first: ADA holdings increased by 4.1% in one day, but in the 24-hour liquidations, the shorts were slightly more liquidated. At the same time, both breakout buyers and short-sellers cutting losses are entering the market.
Total ADA derivatives open interest across the whole network is about 500 million USD. Binance and OKX both added to positions by 4.53% and 6.78% respectively, and Hyperliquid also increased by 5.89%. This isn’t a figure pulled from a single exchange—multiple major platforms are adding positions, and short-term positioning is clearly getting heavier.
Within 24 hours, liquidation reached 9.7 million USD. Out of 338 trades, shorts were liquidated for 503,000, while longs were liquidated for 467,000. Shorts are only up by about 36,000. The direction isn’t extremely one-sided, but it shows that people chasing the drop have started to pay to exit.
Binance, OKX, and Bybit all have fee rates around 0.01%, and there’s no exaggerated long-side premium for now. With open interest rising and fees staying steady, what it looks like right now is funds testing the waters rather than the whole market uniformly going long.
$ADA $BTC
If open interest keeps increasing, would you go long along with the trend, or wait until leverage drops first?
Check in real time: https://www.coinboss.com/currencies/ADA