Binance Futures, the crypto futures trading platform of leading digital asset exchange Binance, is introducing perpetual contracts for the cryptocurrency Cardano (ADA).
The platform’s users now have the option to trade Cardano (ADA) with as much as 75x leverage.
The exchange began offering the new trading option on January 31st. The ADA contract is paired against Tether (USDT), the world’s largest stablecoin with a market cap of more than $4.6 billion.
This marks the first time a major crypto exchange has introduced a perpetual contract for the ADA token, up 9% since its futures launch, moving from $0.0533 to $0.0581. The increase nearly mirrors the 10% jump in price for XRP after last month’s Binance Futures listing of the XRP/USDT perpetual contract.
Futures trading is an extremely risky activity, Binance warns, with the potential for huge gains and devastating losses.