Traders longing ADA futures spike after Trump’s crypto reserve reveal: Bitrue
Trump plans to include ADA in a US strategic Bitcoin reserve, and futures traders are bullish.
Longing Cardano (ADA) futures has emerged as the fastest growing trade on Bitrue after President Donald Trump announced plans to add the altcoin to a US strategic cryptocurrency reserve, the crypto exchange said on March 3.
As of March 3, Bitrue traders hold ADA futures worth more than $26 million in notional value, up from a daily average of roughly $15 million in late February, according to data from Bitrue.
Of those open positions, nearly 92% are long, indicating a bet the price of ADA will rise, Bitrue said.
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Author: Alex O’Donnell
