Coinbase News: Coinbase to List Cardano [ADA] Futures Amid Mixed Market Sentiment

Coinbase Derivatives has made a significant move by filing with the CFTC to list Cardano [ADA] futures, set to launch on March 31st. This decision indicates a growing institutional interest in ADA, but the market sentiment remains uncertain.

Coinbase to List Cardano [ADA] Futures

Coinbase Derivatives has filed with the CFTC to list Cardano [ADA] futures, set to launch on 31 March. This move signals growing institutional interest in ADA. However, the market sentiment remains mixed, as indicated by open interest and funding rates, raising questions about ADA’s short-term price direction. The approval of ADA futures on Coinbase is an important moment for Cardano, as it could potentially spark a new trend.

DEX Volumes Drop 60%, Hitting Solana Hardest

Decentralized exchange (DEX) trading volumes across top chains have declined 60% from January highs, with Solana [SOL] being hit the hardest. In January, DEX volumes peaked at $457.5 billion but dipped below $300B by the end of February and were at $100B as of mid-March. Solana’s top platforms like Raydium, Meteora, and Orca drove most of the January DEX volumes, especially following the launch of meme-coins TRUMP and MELANIA. However, the memecoins cooled off significantly in January. Markets are now focused on next week’s Fed meeting for potential catalysts.