BlockDAG (BDAG) Presale Smashes $207 Million, 10 CEX Listings Ready to Unleash a Flood of Institutional Interest

Big changes are in motion across the crypto world. Cardano (ADA) futures are inching closer to reality, and that could open the doors to a flood of institutional interest.

In the dynamic realm of cryptocurrency, where trends ebb and flow, a closer look at the latest developments on Cardano (ADA), Shiba Inu (SHIB), and BlockDAG (BDAG) reveals interesting shifts and an emerging token poised for significant gains.

Cardano (ADA) futures are quickly approaching, which could have a big impact on how ADA is traded institutionally. Coinbase has filed with the CFTC to launch natural gas futures and is also seeking approval for Cardano (ADA) futures.

This is part of a broader application that also includes an adjustment to the methodology used for calculating realized volatility in futures prices. Coinbase is hoping for approval by March 31.

Coinbase is applying to list natural gas futures as part of a broader filing with the Commodity Futures Trading Commission (CFTC) to expand its offerings beyond crypto. The move comes after Coinbase announced plans to apply for futures licenses earlier this year.

Coinbase is seeking approval from the CFTC to modify the realized volatility methodology used in futures prices. This adjustment would align with the broader market standard, which is to use the average of the last 30 calendar days to calculate realized volatility.

In addition, Coinbase is applying for approval to list Cardano (ADA) futures. This follows an earlier filing by Material Impact Technologies to introduce ADA futures to the market.

Coinbase is also applying for approval to modify the methodology used for calculating the price of futures contracts when there are no trades in a given period of time.

Finally, Coinbase is applying for approval to introduce futures contracts on natural gas. This would expand the types of futures instruments available through Coinbase to include energy commodities.

Coinbase is hoping for approval of these applications by March 31, 2024. No firm date for launching Cardano (ADA) futures has been set yet. However, the news pushed ADA’s price up by 5.63% before it began to stabilize.

Cardano founder Charles Hoskinson reacted to the development, saying that it’s another sign of Cardano’s transition into the mainstream financial world.

“It’s no secret that we’ve been working closely with regulators to ensure we’re operating within the legal framework and paving the way for a sustainable future for blockchain technology,” said Hoskinson.

“We’re excited to see this next chapter unfold with Coinbase’s application for listing Cardano futures.”

With BlockDAG (BDAG) presale already exceeding $207 million and 10 major exchanges set to integrate the token, many are placing their bets on BDAG as the best crypto for higher returns in the current market cycle.

Shiba Inu (SHIB) whale transactions have reportedly dropped by 70% in the last month. On-chain data shows that large-holder outflows fell by 73%, while inflows decreased by 85%.

This lack of liquidity makes it harder for the memecoin to quickly bounce back from any sell-off. At present, SHIB is closely approaching a crucial support level at $0.00012. If selling pressure continues, the next support zone lies around $0.00010.

However, with less whale activity and a sluggish market, the memecoin’s recovery could be slower than expected.

Shiba Inu (SHIB) price is struggling to stay afloat as bears attempt to push the token below a crucial support level. Despite a recent rally that saw SHIB almost double from its recent lows of $0.000007, sellers quickly took over.

After failing to break through the resistance at $0.00014, SHIB slid back down and is now closely approaching the support at $0.00012. A break below this level could open the door for a decline to the next support zone, which is located around $0.00010.

On the other hand, if buyers manage to regain control and push the token above the resistance at $0.00014, then it could pave the way for a rally towards the next resistance level at $0.00018.

A glance at the latest on-chain metrics from Glassnode reveals that large-holder activity has slowed down considerably. Over the past month, the total volume of transactions greater than $100,000 in SHIB has decreased by 70%.

This indicates that large investors, also known as whales, have reduced their trading activity in recent times. Moreover, the numbers show that net outflows from large holders have decreased by 73%, while inflows have fallen by 85%.

This lack of activity from whales could be attributed to their preference for holding onto their SHIB tokens rather than actively trading them. As a result, there is less liquidity in the market, which could make it harder for the token to quickly recover from any sell-off.

In addition, the lack of activity from whales could also be