- ADA trading volume spiked 92%, with derivatives data flashing bullish signals.
- A scam accusation stirred up controversy, but Charles Hoskinson shut it down fast.
- Cardano’s RSI suggests overbought conditions—so a short-term pullback wouldn’t be a shock.
Cardano’s heating up again, grabbing headlines with a massive 92% spike in trading volume. Yeah, you read that right—interest in ADA just roared back to life. But it’s not just charts and candles making noise… there’s drama too. Founder Charles Hoskinson? He’s out here clapping back at critics.
So now the question is—are we looking at the start of a real rally, or just another quick sugar rush?
Derivatives Say Bulls Are in Control—for Now
Let’s get into the numbers. ADA’s futures volume soared past $4.5 billion—up more than 90% in a day. That’s a whole lot of folks betting big. Open Interest rose 12% to hit $1.45 billion, which usually means traders are loading up and feeling pretty confident.
Over on Binance, the Long/Short ratio for ADA/USDT hit nearly 3:1. Translation? The majority’s leaning long, expecting more upside.
Funding rates are also positive—0.0285, to be exact—another sign the bulls might have the upper hand right now. That said, options data has started cooling off a bit, which could mean less hedging and more clear directional bets. Or… maybe the party’s just getting too crowded.
Scams, Accusations & Hoskinson’s Mic Drop
While prices pumped, things got messy on the PR side. Someone named Robin Engraf accused a Cardano-linked employee of helping enable a scam involving a fake withdrawal. Then he went full send and claimed, “your company allows and supports theft.”
Charles Hoskinson wasn’t about to let that slide. He fired back on X, basically calling out the guy for slander and adding, “public humiliation is the only deterrent.” Brutal.
But here’s the kicker—the controversy didn’t hurt Cardano’s momentum. If anything, it probably poured fuel on the fire. People love drama almost as much as green candles.
Is ADA Getting a Bit Too Hot?
At the time of writing, ADA was trading at around $0.86, up 4.6% on the day. That’s solid—but zoom in a bit and it’s showing some signs of overheating.
The RSI is sitting way up at 82.17. That’s deep in “overbought” territory, and usually signals a pullback might be around the corner. Doesn’t guarantee a crash or anything—just means the rally could use a breather.
MACD’s still bullish though, with both lines climbing and confirming upward momentum. Volume is also staying high, which helps. So short-term? Maybe a dip. But longer-term? The fire might not be out yet.
