Cardano price continued its strong downward trend, reaching its lowest level since February 2021, as the crypto market crash accelerated. CME will launch its ADA futures on Monday next week. ADA’s price action will depend on the performance of the broad crypto market. Cardano (ADA) token was trading at $0.2650, down by 80% from its highest point in December 2024.
A potential catalyst for ADA’s price will be the upcoming CME Group futures listing on February 9 this year. This is a major listing that will make it available to institutional and retail traders. Historically, such important launches normally lead to higher prices. For example, tokens such as Solana (SOL) and Ripple (XRP) jumped after their futures launched.
However, in Cardano’s case, there is a possibility that the rebound will not happen after the futures launch. First, the launch will occur during a crypto market crash. As such, the broader sentiment in the industry may outweigh the importance of the futures listing. Second, Cardano may remain under pressure since the ADA futures launch has been priced in by market participants.
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