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1,200,000,000 Cardano Hit in Open Interest as Price Eyes Rebound to $1
Crypto Trends

1,200,000,000 Cardano Hit in Open Interest as Price Eyes Rebound to $1

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In the last 24 hours, Cardano (ADA) rebounded by over 6% from its support after a long period of price correction. This bullish rally has triggered a surge in open interest as investors commit to ADA’s future in anticipation of more growth.

Cardano open interest explodes as traders bet big    

According to CoinGlass data, Cardano open interest has spiked by a massive 26.42% as traders committed 1.2 billion ADA valued at $958.11 million per current futures outlook.

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This development suggests that Cardano investors are anticipating further positive movement, possibly toward the psychological $1 price mark. Since early March 2025, ADA has not reclaimed that price level despite several attempts.

With broader market dynamics hinting at a market rally, Cardano could push for the elusive $1 price. To attain this, it has to confront and break the $0.95 ceiling, which is a critical resistance for Cardano.

As of press time, ADA exchanges at $0.8002, representing a 5.78% increase in the last 24 hours. The community remains bullish as investors have intensified a push for the next level, as trading volume spiked by 69.02% to $1.29 billion.

Cardano might soon record breakouts above its key resistance if market participants sustain the ongoing momentum in this bullish rally.

Can ADA push through $1 barrier?

Interestingly, most traders confident of a possible rebound to the $1 level are on the Bitget and Binance exchanges. Bitget recorded 264.30 million ADA in open interest, while Binance registered 247.54 million ADA in open interest, valued at $212.02 million and $198.65 million, respectively.

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These traders might be eyeing further growth that could increase profit-taking. As reported by U.Today, Cardano whales snapped up about 80 million ADA just before the current spike. The move is now seen as anticipatory of the ongoing bullish breakout.

Now that ADA has climbed to $0.80, the next battle is finding stability at this level. With Cardano’s Bollinger Bands signaling potential spikes to higher levels, investors remain keen to see how the price unfolds.



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Why did Bitcoin just hit an all-time high?
NFT Gaming

Why did Bitcoin just hit an all-time high?

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Bitcoin surged past $110,000 on Wednesday evening, setting a new all-time high as crypto rallied hard.

The previous peak for Bitcoin (BTC), reached during President Donald Trump’s inauguration in January, was surpassed in late morning trading, according to crypto.news data. The buying momentum sustained after U.S. equity markets closed with the largest cryptocurrency by market cap pushing above $110,000.

Bitcoin has gained more than 4.5% in the past 24 hours and over 23% in the last month, reflecting a sharp reversal from April’s downturn.

U.S. equities 

The rally mirrors the broader recovery in U.S. equities, despite Wednesday’s sell-off on Wall Street. Since late April, the S&P 500 has climbed 15%, while the Nasdaq is up more than 21%. Analysts attribute the bounce to growing optimism that President Trump’s trade policies may be less aggressive than initially feared.

After introducing steep tariffs in early April—including a blanket 10% import tax and additional penalties for Chinese goods—the White House signaled a partial retreat.

 A 90-day pause on the most severe measures was announced last week by Treasury Secretary Scott Bessent following negotiations with Chinese officials.

Bitcoin initially fell to a two-month low of $76,000 shortly after Trump unveiled the tariffs, reflecting market fears over a broader global slowdown. 

Despite Bitcoin’s reputation as a hedge against traditional financial assets, it often trades in tandem with risk-on equities, especially tech stocks.

What’s going on with Bitcoin? 

Some of Bitcoin’s momentum appears driven by crypto-native catalysts. Enclave Markets CEO Phil Wirtjes said the rally was “likely aided by policy advancements,” particularly bipartisan progress on stablecoin legislation.

A draft bill that would establish clearer rules for USD-backed digital tokens has gained traction in the Senate.

Institutional demand has also picked up. Spot Bitcoin ETFs attracted $329 million in inflows over the last 24 hours. 

Bitcoin’s latest rally raises questions about how much of its performance is driven by macro versus crypto-native factors. 

While regulatory clarity and ETF inflows are key tailwinds, the correlation with stocks suggests that investor appetite for risk remains a dominant force in both arenas.



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Sonywh Ch720n
Gaming Gear

This Sony Noise-Cancelling Headphones Hit Their Lowest Price for Memorial Day, You’ll Barely Pay a Thing

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You haven’t really heard music until you’ve listen with a solid set of headphones. The technology has been around long enough at this point that you really don’t need to burn a hole through your wallet to afford a pair. Look at Sony. Right now, Sony’s WH-CH720N noise-canceling headphones which normally go for $150 have been cut in price for a limited time. The pink and white options have been brought down by 35% each, landing on the new price of $98. The black, however, have been discounted even further at 35% off which brings it down to just $88. That’s a savings of $62.

I’ve got to hand it to Sony. The company’s name choice when it comes to its flagship set of headphones never seizes to amaze me. If we check out Apple’s over-the-ear headphones, we’ll see they appropriately been dubbed the AirPods Max. Samsung’s earbuds are eloquently named Galaxy Buds, fitting into line all the other Samsung Galaxy personal devices.

See at Amazon

But then we have Sony. Oh, Sony. Here we have the WH-CH720N noise-canceling headphones. One might think some product manage at Sony was having a hectic day and mistakenly filled out the field on some form with not the product name but with its SKU number. Honestly though? It kind of rocks.



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Crypto Trends

Bitcoin on Track to Hit $500K as Government Entities Increase MSTR Holdings: Standard Chartered

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In brief

  • Bitcoin’s price will reach $500,000 over the next three-and-a-half years, Standard Chartered analyst Geoff Kendrick writes.
  • In the first quarter, 12 government entities increased their exposure to Strategy.
  • Strategy holds 576,000 Bitcoin.

Bitcoin’s price remains on track to hit half a million dollars before Donald Trump’s current term ends after government entities increased their indirect exposure to Bitcoin in the first quarter, according to Geoff Kendrick, global head of digital assets research at Standard Chartered, 

Whether it was South Korea’s National Pension Service, the Swiss National Bank, or U.S. state retirement funds, government entities’ recent holdings of Strategy—which owns around 576,000 Bitcoin—“was very encouraging,” Kendrick wrote in a note on Tuesday. That group also included Swedish pension funds, a state-owned bank in France, and the Saudi Central Bank.

In the first quarter, 12 government entities increased their exposure to Strategy, holding 31,000 Bitcoin worth of Strategy shares, he added.

Although investors can gain exposure to Bitcoin through spot exchange-traded funds that were approved in the U.S. last year, government entities’ increased Strategy holdings reflect “widening structural demand” for Bitcoin and Strategy’s continued use as a Bitcoin proxy, Kendrick wrote.

“We believe that in some cases, MSTR holdings by government entities reflect a desire to gain Bitcoin exposure where local regulations do not allow direct BTC holdings,” he added.



Analysts at the British multinational bank believe that Bitcoin’s price will reach $500,000 before the end of  Trump’s second term ends in early 2029. That target is premised on the understanding that Trump’s administration, through the repeal of SAB 121 and initiatives like his strategic Bitcoin reserve, will improve investors’ access to Bitcoin, while encouraging demand.

 

Each quarter, institutional investment managers with over $100 million worth of assets under management are required to reveal their holdings through a filing with the Securities and Exchange Commission. Known as a 13F, Kendrick argued that these filings are the best way to test “our thesis that BTC will attract new institutional buyer types as the market matures.”

Within the U.S., state retirement funds for California, New York, North Carolina, and Kentucky upped their Strategy holdings by the equivalent of 1,000 Bitcoin, Kendrick said. Each share in Strategy equates to 0.0018 Bitcoin per diluted share, per Strategy Tracker.

Sovereigns’ exposure to Bitcoin through spot ETFs “was disappointing at first glance,” Kendrick noted, pointing to an overall decline in their direct holdings. The State of Wisconsin Investment Board, which held the equivalent of 3,400 Bitcoin through ETFs, sold all its holdings. 

Mubadala Investment Company, the sovereign wealth fund for Abu Dhabi’s government, validated Standard Chartered’s thesis when it started stockpiling Bitcoin last year. In the first quarter, its Bitcoin exposure increased to 5,000 Bitcoin, from 4,700 Bitcoin, not long ago.

Edited by James Rubin

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