Unexpectedly, $ETH shows biggest rebound in almost a year, while $ADA and $BLUR are becoming more popular among traders
The recent market turmoil caused by the depegging of USDC and SVB liquidation caused significant volatility on the cryptocurrency market, leading to a sharp drop in the value of major cryptocurrencies, including Ethereum.However, with the injection of funds into the market stabilization fund, there has been a significant rebound in Ethereum's price, as investors regained confidence in the market.
While Cardano may not be the top choice among speculative traders, the rise in open interest can contribute to the price recovery of the asset. Open interest is the total number of outstanding contracts that have not yet been settled, and it is used as an indicator ofThe increase in open interest for Cardano comes after a rough patch for the cryptocurrency, which saw it lose more than 27% of its value at the end of February and the beginning of March.
The rebound of BLUR token can be attributed to several factors. Mainly, the overall cryptocurrency market has been performing well in recent days, which has provided a boost to many tokens, including BLUR. This has seen more investors return to the market, seeking to maximize their profits and fund their positions.
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