Cardano (ADA) experienced a remarkable surge in futures activity, with its futures volume on the Bitmex crypto exchange increasing by an astounding 1,264,849.11%. This translated to $624.51 million in the last 24 hours, significantly higher than its usual daily volume. This spike occurred even as the broader cryptocurrency market faced selling pressure on Monday, leading to $874 million in liquidations across the market. The increased futures activity suggests that traders were actively cutting leverage and readjusting their positions amidst the market volatility.

The broader crypto market sell-off was driven by significant losses in major cryptocurrencies, fueled by concerns over new tariffs on European goods that sparked selling across global markets. Cardano was not immune to this pressure, sharply falling to a low of $0.345 early Monday, extending its drop from the previous day. At press time, ADA was down 5.56% in the last 24 hours, trading at $0.371, and had declined 3.89% weekly. Despite the price drop, its spot trading volume saw a substantial increase of 187% to $1.01 billion, according to CoinMarketCap data.

Looking ahead, Cardano (ADA) futures are slated to launch on the CME Group, a leading derivatives marketplace, on February 9, pending regulatory review. This development could introduce new institutional interest and liquidity into the Cardano ecosystem.

Regarding future price action, Cardano had a seemingly strong start to 2026, rising to a high of $0.437 on January 6, following a promising end to 2025.

However, these gains have been almost entirely reversed due to sustained profit-taking. ADA has since dropped back to a low of $0.345 and fallen below the daily Moving Average 50 (MA 50). Although Cardano had previously managed to rise above the daily MA 50, which had limited its price action since October, it failed to sustain this level. After multiple attempts, ADA gave way beneath the MA 50, returning to the lower part of its trading range.

For Cardano to regain bullish momentum, a sustained return above the daily MA 50 will be a key indicator. If this occurs, ADA will target resistance levels at $0.50 and $0.64. Conversely, the immediate support level for Cardano is expected at $0.329, which will be crucial to hold against further downside pressure.