12 hour ago
1 0
BEARISH 📉 : CME Cardano Futures Launch Causes 3% ADA Price Drop
The launch of Cardano (ADA) futures on the Chicago Mercantile Exchange (CME) was met with a 3% price dip, testing support levels around $0.25. This aligns with a typical "sell the news" market reaction, where traders cash out following anticipated milestones.
- Institutional adoption: Cardano joins Bitcoin and Ethereum in regulated derivatives markets.
- CME futures contracts allow for hedging rather than aggressive accumulation, impacting spot volatility.
- First trades executed by Cumberland DRW and Wintermute highlight infrastructure readiness.
- Current ADA price outlook remains bearish unless it reclaims the $0.40 region.
- If the $0.24 support fails, further downside is expected due to post-launch selling pressure.
While ADA struggles, meme coin Maxi Doge ($MAXI) is gaining traction during its presale, raising over $4.59 million. The project offers a dynamic APY of 68% and aims to attract traders with high-energy trading culture and strong staking rewards.