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XRP and Cardano Futures Ready to Launch After Ripple Destroys SEC Again

Binance Futures is set to launch new quarterly delivery contracts for XRP and ADA, even as the broader cryptocurrency market experiences turbulence. What does this mean for traders?

XRP and Cardano Futures Ready to Launch After Ripple Destroys SEC Again

Binance Unveils Future Market Strategy: A Deep Dive into Its Upcoming Offerings

At the very core, futures are intricate financial derivative products. They enable traders to make educated predictions about future price shifts of assets without actually owning them. Two main types dominate the Binance Futures platform: COIN-Margined (COIN-M) and USDS-Margined. The COIN-M variant allows traders to possess the underlying digital asset, settling and collateralizing in the primary cryptocurrency.

In its strategic step forward, Binance Futures revealed its plan to expand its list of offerings. Following the settlement of the current batch of quarterly 0929 Contracts on September 29, at precisely 8:00 a.m. UTC, the platform will introduce the new Quarterly 0329 Futures Delivery Contracts. This will notably include COIN-M BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT, and LTC. The spotlight, however, remains on the new listings for XRP and ADA, two key players in the altcoin space.

A Snapshot of XRP and ADA’s Market Performance

Recently, the cryptocurrency landscape has been marked by volatility, with most altcoins, referred to as alternative cryptocurrencies, struggling to sustain their short-lived gains. At the moment, the digital currency market paints a predominantly red picture.

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XRP, specifically, has recorded a 3.24% dip over the last day, now hovering around the $0.494 mark. Cardano (ADA), experiencing a relatively milder downturn, has decreased by 0.60% in the same timeframe, positioning itself at approximately $0.243. Worth noting is Cardano’s recent milestone – the sixth commemoration of its genesis block.

The forthcoming days promise to be intriguing, as traders globally will keenly monitor price activities. While the bears presently seem to command the market, shifts in momentum could witness a resurgence of bullish tendencies. With Binance Futures’ impending listings, the stage is set for yet another fascinating chapter in the realm of digital currency trading.

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