Di balik lonjakan posisi berjangka ADA: Ekspektasi ETF spot mendorong trader untuk mengatur posisi

【Coin Circle】In the past 24 hours, Cardano’s futures positions have expanded rapidly, with open interest climbing 1.29%, accumulating a total position of 1.99 billion ADA, valued at approximately $817 million at current prices.

Behind this market movement is an important catalyst — the market is betting on whether Grayscale’s spot ADA ETF can receive regulatory approval. Although the U.S. Securities and Exchange Commission has not yet given a final response, conclusions are expected in early 2026, but traders have already begun positioning in advance to prepare for a potential price rally.

From exchange data, the futures market activity on major platforms is heating up. One leading exchange’s ADA futures position share is the highest at 25.18% (equivalent to 502 million ADA, valued at $206 million).

Interestingly, despite the increase in holdings, ADA’s price itself has actually declined slightly by 1.56%, now trading at $0.4127, and 24-hour trading volume has also shrunk 7.5% to $847 million. However, from a technical perspective, the situation doesn’t look pessimistic — the golden cross and Bollinger Bands indicators both show upward signals.

Some analysts remain optimistic about the near-term outlook, pointing out that if ADA’s performance can replicate XRP’s recent performance, a move toward $0.60 is not impossible. Of course, this prediction is based on the assumption that the ETF approval passes.