CME Group, a major derivatives market leader, will add futures contracts tied Cardano (ADA), Chainlink LINK (LINK), Stellar (XLM), to its growing list of regulated cryptocurrency derivatives.
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CME Adds New Altcoins To Crypto Derivatives Lineup
CME Group, a Chicago-based derivatives market, held its Thursday trading session. announced Cardano futures, Chainlink and Stellar will be added to the company’s regulated cryptocurrency derivatives.
The announcement states that the crypto-additions will launch in 2026 on the 9th of February, but they still need to be reviewed by regulators. They will also offer micro-sized as well as larger-sized contracts.
Cardano’s standard futures cover 100,000 ADA while micro-sized ADA contracts are 10,000 tokens. Chainlink’s and Stellar’s futures in large sizes will each be 5,000 Link and 250,000 XLM. Meanwhile, small contracts will only cover 250 Link and 12,5 XLM.
Cardano, Chainlink and Stellar are the newest futures contracts to be offered by the Derivatives Exchange. The current crypto suite includes four of largest cryptocurrency market capitalizations.
In 2017, CME first launched Bitcoin (BTC) futuresIn 2021, the Chicago-based exchange will introduce Ethereum (ETH), followed by options for both cryptocurrencies later in the year. The Chicago-based exchange will add Solana futures (SOL), and XRP to its product line in 2025. Options for these cryptocurrencies are expected later that year.
Giovanni Vicioso of CME Group, Global Head for Cryptocurrency Products highlighted the growth and development in the crypto industry over the last few years. “given crypto’s record growth over the last year, clients are looking for trusted, regulated products to manage price risk as well as additional tools to gain exposure to this dynamic market.”
“With these new micro- and larger-size Cardano, Chainlink and Stellar futures contracts, market participants will now have greater choice with enhanced flexibility and more capital-efficiencies,” Then he went on to say:
Cardano, Chainlink, Stellar Price Reaction
Despite this positive change, the trajectory for ADA, LINK and XLM remained largely unchanged. The three altcoins continued their intraday correction. Chainlink and Stellar saw both 4% drops from their highs on Thursday, dropping to $13.60 (for Chainlink) and $0.225 ($ for Stellar).
LINK temporarily lost its $13.80 per level. support The current price is being held to stop further bleeding. Similarly XLM has also been rejected from its Wednesday highs. The price bounced back from $0.230 and continued its decline toward the two-day minimum.
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ADA, meanwhile, was attempting to reclaim $0.41 ahead of the announcement. It briefly bounced from its recent drop. Cardano has surged by over 10% since the lows of the last few days, towards the critical $0.42-$0.43 range.
Altcoins are not new. rejected On Wednesday, the cryptocurrency bounced from this area and retraced nearly 9% of the highs reached locally to test the $0.40 mark. This area was the first to bounce on Thursday, however, as the day went along, it began its downward trend.
Cardano, which is trading at around $0.391, has reversed the majority of its gains from this past week.
Charts from TradingView.com and Unsplash.com.
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Source: www.newsbtc.com
