FTX CEO Sam Bankman-Fried has tweeted that adding a spot Cardano (ADA) pair is already on the exchange’s roadmap in response to a disgruntled user.
Bankman-Fried has noted that the popular trading platform currently offers perpetual futures tied to the popular cryptocurrency for its international users.
FTX also lets its users trade 3X Long Cardano Token (ADABULL), whose returns correspond to three times the daily return of the cryptocurrency.
According to data provided by cryptocurrency data company CoinGecko, the ADA token is currently the eighth biggest cryptocurrency by market capitalization.
Alex DovbnyaOf course, FTX is not ignoring the token intentionally. As explained by Bankman-Fried, it is easier to add support for those tokens whose blockchains the exchange already supports. Hence, adding ERC20 tokens, such as ADABULL, is a relatively seamless process. For now, FTX to make sure that it has good Cardano validator parsing for deposits and withdrawals, Bankman-Fried says.
It remains unclear when FTX will eventually add support for ADA spot trading. Last September, Business Insider reported that the exchange planned to add spot pairs for ADA and Polkadot’s DOT. FTX added the DOT spot pair in early January.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Yuri Molchan
Arman Shirinyan
Dan Burgin
Vladislav Sopov