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HomeCrypto NewsMarketTop US Exchange Kraken Adds Support For Cardano (ADA) Futures Contracts

Top US Exchange Kraken Adds Support For Cardano (ADA) Futures Contracts


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Kraken Announces Support For Cardano (ADA) Futures Contracts.

ADA users can now use the coin to initiate futures contracts on Kraken.

It’s good news for the Cardano community as ADA finally gets support from one of the biggest crypto exchanges. Until now, ADA holders weren’t able to use the coin to initiate futures contracts on Kraken.

Now, all that is possible, as announced by Kraken on Twitter. Futures contracts represent an agreement made between a buyer and a seller to a transaction with regard to a particular commodity, in this case, a digital asset, at a specified price at a pre-determined time in the future. Futures exchanges facilitate this trade.

With Kraken’s support, ADA holders can now access over 40 futures contracts on the exchange platform. This comes ahead of the planned Vasil upgrade on the Cardano network this year. Also, Cardano CEO Charles Hoskinson has expressed intentions to fix any issues that may have been carried over from the original Cardano setup. However, he’ll do that after the Vasil upgrade.

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According to the exchange:

“New collateral live: Use ADA to get exposure to over 40 futures contracts now!”



To get started with the ADA-based futures contracts on Kraken, ADA holders will need to transfer their coins from their spot wallet to their future wallet. After that, they can use their ADA to initiate futures contracts of their liking. Meanwhile, ADA seems to be struggling to maintain its price range at around $0.45.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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