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Coinbase Files for Cardano (ADA) Futures: Very Bullish
March 15, 2025
In a significant move, popular cryptocurrency exchange Coinbase has filed for the launch of Cardano (ADA) futures and Natural Gas (NGS) futures. This development has sent shockwaves through the crypto community, with many anticipating a surge in price action.
Cardano’s Surge
Following this announcement, the bull sentiments around Cardano ($ADA) have surged, causing an impressive 5.63% increase in the coin’s value. While the price may have retraced slightly since then, the momentum remains intact. At press time, the current trade price of $Ada coin stands at $0.73.
The crypto analyst Ali Chart has even predicted a potential surge of up to 15% in the near future. It seems that this could be more than just speculation, as the technical indicators are aligning with his forecast.
Coinbase’s Legal Obstacles Lifted
It is worth noting that Coinbase has been battling legal hurdles since 2023, when the United States Securities and Exchange Commission (SEC) initiated a lawsuit against them. However, this week, it was announced that the SEC had dropped the case, leaving Coinbase free to resume its normal operations.
Coinbase’s CEO, Brian Armstrong, expressed relief at the decision and emphasized his team’s commitment to advocating for clear crypto regulations. With these legal obstacles lifted, Coinbase is now poised to relaunch closed crypto products and explore new opportunities like ADA futures.
Resuming Services in India
This move also comes as Coinbase has secured regulatory approval to resume its services in India. The exchange had previously faced restrictions on its operations due to the pressure from the Indian FIU unit. With this approval, it seems that Coinbase is once again ready to expand its reach and diversify its offerings.
Coinbase’s Stock Price Action
Meanwhile, the price action of Coinbase ($COIN) stock has been trending upward, with a 3.17% gain over the last 24 hours. The current trade price of Coinbase ($COIN) stock stands at $183.
In conclusion, it appears that this news has sparked significant interest and momentum in the crypto market. With Cardano’s surge and Coinbase’s renewed focus on its services, investors should be prepared for a potentially explosive few days ahead.
Source: https://bitcoinik.com/coinbase-files-cardano-ada-futures-bullish/
