Was ADA’s rally really a short squeeze? Some coverage said so, pointing to falling open interest. Santiment’s daily closes show the opposite. 📈 ADA rose ~10% from Oct 3 to Oct 5. 📊 Open interest rose ~25% over the same two days, to $304M, its highest daily close since at least early April. 🧭 Measured in coins rather than dollars, open interest still rose ~13%, so this is new positioning, not just a higher price. 🐋 Whale transactions ($100K+) hit 413 on Oct 5, about 2.2x the Sep 7 to Oct 2 weekday average. Social volume on Oct 5 sat at ~1.1x that same baseline. Some short covering likely helped: funding hit its most negative reading of the past month on Oct 2, then flipped positive. But covering shrinks open interest, it doesn’t grow it. The headline said squeeze, the open interest says leverage. 🔗 Explore ADA open interest in Sanbase: https://app.santiment.net/charts/ada-6-10-32197?utm_source=x&utm_medium=post&utm_campaign=adaoi_1026&aff=33