Cardano has been trading in the red over the past 24 hours as the cryptocurrency market widened its decline on Saturday, exacerbating an earlier decline. The market crash resulted in stakes in leveraged crypto futures trading reaching the equivalent of $591 million in 24 hours.
Cryptocurrency prices remain under pressure as the partial government shutdown increases market uncertainty.
Along with this decline, the open interest (OI) in futures linked to most major cryptocurrencies also decreased, with Cardano’s open interest dropping 3.68% in the past 24 hours to $597.55 million.
While the Cardano index remains in the red, there are outliers in the derivatives market, with ADA futures trading volume on the Bitmex cryptocurrency exchange soaring 18,966.01% to $285.69 million, according to data from CoinGlass.
According to data from CoinMarketCap, Cardano’s trading volume decreased significantly in the derivatives market, dropping by 19.6% to $1.41 billion.
Cardano news
This week, Cardano founder Charles Hoskinson announced that USDCx is a non-EVM privacy version of Cardano. $USDCis coming to Cardano, the latest delivery via the Pentad and community-funded Critical Integrations program.
According to an announcement this week, Cardano’s Midnight (NIGHT) token can now be bridged to the COTI network via ChainPort. Pondora has launched Echo, the first non-custodial Hydra implementation that transforms smart contracts into Hydra participants.
Pulse, believed to be a privacy DEX for Cardano, has been launched on the Midnight public testnet. Fluid Tokens said it is currently in the final stages of completing the Bitcoin Cardano Bridge.
This week, Input Output Engineering’s Hydra team and Masumi Network announced a collaboration to bring Maesumi, an AI agent on top of Hydra.
Currently, progress is being made towards the integration of Node v.10.7 as Cardano prepares for an intra-era hard fork to the protocol 11 version.
IO Principal Scientist Professor Aggelos Kiayias has been named a 2025 Fellow of the Association for Computing Machinery, one of the highest honors in computer science.
