Cardano Launches ADA Futures on BitMEX

Cardano Launches ADA Futures on BitMEX
08.01.2018 10:00 am

Cardano Launches ADA Futures on BitMEX

Blockchain

Cardano Foundation, IOHK and Emurgo, the three partners behind leading blockchain Cardano, today announce that ADA, Cardano’s cryptocurrency, is now tradeable on BitMEX, the cryptocurrency leveraged trading platform.

The listing bolsters Cardano’s presence in Asia following the launch of ADA, now a top-five cryptocurrency by market capitalisation, on a series of listings on exchanges in October and November 2017, including Bittrex, Binance and Coinnest.

The ADA listing on BitMEX is in the form of a fixed date contract and allows traders to speculate on the changing value of the Cardano / Bitcoin (ADA/XBT) exchange rate with up to 20 times leverage. Traders do not need to have ADA to trade the contract as it only requires Bitcoin as margin. Details of the BitMEX ADA fixed date contract are available here.

To coincide with the launch, BitMEX is offering a $100,000 giveaway to customers who trade the new contract. The contest runs from January 8-15th. For details, see the BitMEX blog

The technology underpinning Cardano’s ADA token was designed by leading experts, academics and cryptographers over the last two years, drawing on the best features of existing cryptocurrencies including Bitcoin, Ripple and Ethereum.

Crucially, it is the first blockchain to use a provably secure, proof-of-stake algorithm, the only one to have been academically peer reviewed by leading cryptographers through its acceptance to Crypto 2017, the world’s top cryptography conference.

Arthur Hayes, CEO, BitMEX, said: “The addition of ADA contracts on the BitMEX platform will further assist the cryptocurrency's transformation into a truly liquid and tradable asset.”

Michael Parsons, Chairman, Cardano Foundation, said: “This new listing is indicative of Cardano becoming a truly global blockchain platform. We are excited to see Cardano list with BitMEX. Adoption of ADA by new trading platforms is reflective of the bright future that Cardano has as a leading blockchain platform.”

Charles Hoskinson, CEO, IOHK, said: “As markets evolve, there is an increasing need for liquidity and more sophisticated trading strategies. I'm glad to see BitMEX list ADA and hope this continues to aid our march towards becoming the financial stack for the developing world.”

Ken Kodama, CEO, Emurgo, said: “Listing on BitMEX as a contract is a great step for ADA to have more liquidity and grow the Cardano ecosystem.”

Related News

Digital Asset Opens Developer Program for its Enterprise Smart Contract Language, DAML

Digital Asset,the leading provider of Distributed Ledger Technology for the financial services industry, today unveiled a developer program for its enterprise smart contract... Read more »

Iconic Tech Event from Silicon Valley is Coming to Europe in June 2018

Intellectsoft, global software development company with a focus on the latest tech, will co-host "Blockchain: Rethink Trust 2018" - a new, enterprise-grade conference on... Read more »

Blockchain London Conference arrives in Olympia London, don’t miss out!

The Blockchain London Conference will arrive in Olympia London next week for the first leg of the 2018 World Series. The world... Read more »

Santander launches the first blockchain-based international money transfer service across four countries

Banco Santander today announced the launch of a new international payments service using blockchain-based technology. The service is available to retail customers in Spain, UK... Read more »

Ripple Invests $25M in Blockchain Capital’s Latest Fund

Ripple has invested $25 million in XRP to Blockchain Capital’s most recent $150 million fund, specifically Blockchain Capital Parallel IV, LP. Blockchain Capital is the first... Read more »

BCS Technology as a 'Representative Vendor' in Gartner's Market Guide for Blockchain Consulting and Proof-of-Concept Development Services

BCS Technology, a leading provider of Blockchain consulting and implementation services, today announced that it has been identified as a representative vendor in the Gartner "... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App