Cardano(ADA) held above $0.21 as decentralized exchange volume fell 98% from its Aug. 22 peak, leaving $0.20 as the next support test. Key Points: Cardano DEX volume dropped from about $56 mi
Cardano(ADA) held above $0.21 as decentralized exchange volume fell 98% from its Aug. 22 peak, leaving $0.20 as the next support test.
- Cardano DEX volume dropped from about $56 million on Aug. 22 to roughly $1 million.
- ADA traded at $0.2158, while futures open interest fell from $582.14 million to about $485.32 million.
- The $0.20 area remains the main support level after ADA’s rejection near $0.258.
ADA traded at $0.2158, up 1.61% during the session, while remaining above $0.20 after retreating from a recent high near $0.258. The price has held up better than Cardano’s decentralized trading activity.
Data from DeFiLlama showed daily DEX volume reaching about $56 million on Aug. 22, followed by several sessions between $16 million and $32 million before activity fell to roughly $1 million.
Cardano DEX volume generally stayed below $5 million from April through the first half of August, making the late-August burst an unusually high starting point for the 98% comparison. The surge was not typical of preceding months. The latest reading has moved activity closer to its earlier range.
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Derivatives activity cooled alongside DEX trading, with futures open interest falling from $582.14 million on Aug. 22 to around $485.32 million after ADA’s sharp advance. Some traders reduced exposure after the price move.
The first support zone sits between $0.208 and $0.20, and holding it would preserve much of the recent recovery while keeping another attempt at $0.228 within reach.
A TradingView chart showed ADA recovering from $0.2075 after the rejection, while a break below $0.20 could return attention to the earlier trading area near $0.17. ADA had recently climbed from around $0.175 to $0.258 before the move was rejected and price returned toward $0.21, leaving buyers to defend a higher range even as network trading returned toward earlier levels.
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