Cardano Open Interest Falls to $607 Million as ADA Drops and USDCx Deal Is Signed

Cardano's open interest declined to $607 million in the last 24 hours, an 8% drop that coincided with a broader crypto market sell-off and $1.74 billion in liquidations. ADA traded at $0.3274 after falling 5.44%, while long positions made up most of the $1.64 billion in long crypto liquidations. At the Midnight Tour in Japan, Cardano founder Charles Hoskinson announced a signed agreement to integrate the USDCx stablecoin into the Cardano ecosystem, backed by a 70 million ADA budget.