Coinbase Launches Cardano (ADA) Futures, Targeting New Markets and Accelerating Adoption

Coinbase announced the launch of Cardano futures on Coinbase Derivatives, potentially accelerating adoption and contributing to price stability.

Coinbase is adding Cardano futures to its derivatives offerings, expanding its portfolio of financial products.

According to a recent filing with the Commodity Futures Trading Commission (CFTC), the cryptocurrency exchange is planning to self-certify Natural Gas (NGS) futures and ADA futures.

The product is expected to launch by Monday, March 31, on Coinbase Derivatives, a division of Coinbase that focuses on digital assets derivatives.

The CFTC is the U.S. government agency that regulates commodity futures, options, and swaps markets. Financial institutions and exchanges must file with the regulator to list and sell their products to customers in the U.S.

Its filing with the regulator would allow the crypto exchange to offer these contracts to U.S. customers in compliance with CFTC regulations.

The financial contracts will be linked to the price movements of natural gas and ADA. Traders who hold these futures contracts will be able to speculate on the future price trends of these underlying assets.

Coinbase is expanding its portfolio of financial products to cater to a broader range of traders.

The integration of natural gas futures is part of the exchange’s strategic expansion into traditional energy commodity markets.

Coinbase is also expanding its cryptocurrency derivatives offerings. Earlier this year, the exchange launched bitcoin futures on its derivatives platform.

Now, the addition of ADA futures showcases the exchange’s move to diversify its financial products range, aiming to capture both traditional and cryptocurrency traders.

Cardano is heating up in a crucial technical zone, presenting a potential upside to $1.5.

ADA is currently in a consolidation zone, forming an ABCDE triangle on the chart. Analysts have detected a C wave down from the 0.618 Fibonacci retracement zone, indicating a short-term bearish trend.

From this point, the token is expected to rally in the D wave and then face another leg down in the E wave, completing the triangle pattern.

Traders should closely watch for a bounce at the 0.5-0.618 Fib zone, as it could propel ADA for a potential rally to $1.5.

Despite the bullish technical outlook, traders are advised to practice proper risk management by placing their stop-loss orders below the 0.618 Fib level to mitigate potential losses.

In other news, Trump has chipped in with a gentle reminder that he hasn't forgotten about the U.S. strategic crypto reserve, which will include $ADA.

Moreover, Cardano founder Charles Hoskinson continues to highlight the increasing adoption of ADA.