In the bustling bazaar of Bitrue, traders, giddy as schoolchildren, have discovered the enchanting allure of longing Cardano (ADA) futures. Much like a balmy spring evening, the news wafted through the air on March 3, right after our illustrious President Donald Trump made a proclamation about adding this whimsical altcoin to a strategic US cryptocurrency reserve. Alas! What a turn of events!
As of the aforementioned date, traders on Bitrue are clutching ADA futures worth over $26 million, a considerable spike from a modest average of $15 million in the dim days of late February. Could it be that a Russian fairy-tale spell has been cast upon them? Or perhaps Trump’s announcement was merely the spark needed?
Much to the chagrin of the sliders of the market, a staggering 92% of these open positions are long! Yes, they are hedging their hopes on a price increase for ADA, which, if it were a vegetable, would certainly be a gigantic cabbage waving in the breeze!
“As a result of this newfound fervor,” the exchange quipped in an electronic missive, “the ADA/USDT trading pair has grown at breakneck speed in the realm of Futures.” Oh, joyful day!
In a fervor unmatched, on March 2, the great Trump himself took to the agreeable platform of Truth Social, instructing his digital assets taskforce to include not only XRP and Solana but also our dear ADA in the crammed stockpile of US government crypto treasures. How very magnanimous of him!
Following this proclamation, Bitcoin and Ether joined the motley crew, vying for the prestigious “heart of the reserve” position. A fine ambition indeed, but who will take the throne when the dust settles?
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Ah, the Languishing Layer-1!
Born of the ingenious mind of Ethereum co-founder Charles Hoskinson in 2015, Cardano was initially hailed as a serious contender to take down Ethereum, much like a furious rooster challenging a stable horse. Alas! Reality brought forth the specter of performance issues and bewildering delays, causing Cardano to languish like a forgotten potato in the pantry.
The cryptocurrency’s fully diluted valuation rests languidly below $40 billion, casting a timid glance at Ethereum’s soaring figure of more than $260 billion. Such is the fate of our brave little ADA, once so promising!
As we examine the total value locked (TVL), a meager $440 million stands juxtaposed against Ethereum’s hefty pile of over $50 billion. The stark contrast resembles a plump banquet table set against a desolate plate of pickles. Alas, what a world!
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2025-03-03 23:00