Cardano News Today – Margin Trading Goes Live for ADA But the Token Continues to Decline Against the USD – September 3rd, 2020 

  • Cardano ADA is Set for Margin Trading on Bitfinex According to Paolo Ardoino
  • Cardano ADA is Still Bearish Against the USD Despite the Good News
  • Cardano ADA Will Start Gaining Momentum if it Moves Above $0.1300 Level 

Cardano News Today – Bitfinex has just launched margin trading for the Cardano ADA token. The margin listing comes over a month after the Cardano Shelley hardfork took place successfully. According to Paolo Ardoino, the CEO of Bitfinex has said that the Cardano ADA token has been made available on their margin trading platform. The news also comes shortly after they added the ADA token to their trading list. THE ADA margin trading comes in two pairs, ADA/USD and ADA/USDT.

Cardano News Today – Margin Trading for Cardano ADA Will Pave the Way for More Adoption

The Cardano ADA pairs are available with a 3.3x leverage and initial equity of 30%. It also comes with 15% of the maintenance margin. Among other things, margin trading will allow traders to use funds that belong to exchanges. This allows them to increase their leverage and gain more from trading the token. Apart from being beneficial to clients, margin trading will also be great for the ADA token. The Cardano ADA token will also get more liquidity and higher trading volume. So, there is a chance that the token will also increase in price.

The CEO of Cardano ADA, Charles Hoskinson, has acknowledged that the Cardano blockchain has made significant progress since the Shelley network and it will most likely keep getting better. Hoskinson said that the appearance of native tokens and smart contracts on the ADA platform is now great thanks to the Shelley upgrade. Hoskinson said that Cardano ADA will become the best cryptocurrency in the market.

ADA Price Prediction – Cardano ADA Will Start Gaining Momentum if it Moves Above $0.1300 Level

At the time of writing, the price of Cardano ADA was $0.111298. It was down by 3.95% against the USD and down by 2.14% against Bitcoin BTC. The trading volume over 24 hours was $357,221,968 and the market capitalization was $2,885,639,201. Right now, the Cardano ADA token is facing significant bearish pressure against the USD. However, if the token can gather the momentum it needs to move above the $0.1200 level, it might be able to move above the $0.1300.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.103

As long as the token can surge above the $0.1300 level, it will gather the momentum it needs for smooth sailing. If Bitcoin BTC gains bearish momentum against the USD, it will most likely drag Ethereum, Cardano ADA, and other cryptocurrencies. Bitcoin BTC is currently trading at $10,869.49. It is down by 4.65% against the USD with a trading volume of $28,025,043,923 and a market capitalization of $200,852,561,907.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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