CME Group 'Looking At' Offering Solana, Cardano Futures

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The CME offering derivatives for Solana and Cardano would certainly increase the legitimacy of the markets for these coins, I reckon. For mainstream institutional investors, their choices are only Bitcoin and Ethereum because the volume of their investments needs higher liquidity that no other cryptocoin derivatives can offer. The CME might change this for Solana and Cardano. However, why not offer Binance smartchain also? Solana experienced downtime and it might not be reliable. Cardano is unusable.


King of Solana whales. Sam Bankman-Fried, CEO of FTX

Solana (SOL) and Cardano (ADA) might soon have futures contracts available on the Chicago Mercantile Exchange, a CME Group executive said earlier this week.

Payal Shah, the director of equity and cryptocurrency products at CME, spoke at CryptoCompare’s Digital Asset Summit in London.

"We’re looking at it,” she said when asked if CME was considering offering futures and other derivative products for altcoins. “We get a number of client requests for anything outside the top two—Solana, Cardano.”

Read in full https://decrypt.co/96722/cme-group-looking-at-offering-solana-cardano-futures

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For mainstream institutional investors, their choices are only Bitcoin and Ethereum because the volume of their investments needs higher liquidity that no other cryptocoin derivatives can offer. The CME might change this for Solana and Cardano.

FTX and Sam chose Solana blockchain as their strategic development and this news from CME will help Solana price on market.

However, why not offer Binance smartchain also? Solana experienced downtime and it might not be reliable. Cardano is unusable.

Binance Smart Chain is under attacks of other exchanges, other chains. Binance is a game-changer by launching their own chain that motivated other exchanges to do the same. Later other exchanges want to compete with Binance and Binance Smart Chain. To do this, they try to create as many barriers as possible to reduce the chance for further growth of BSC. They try to restrict exposure of their users to Binance Smart Chain.

If you are working with listing procedure, you will know exchanges are readily to approve tokens on ERC20 but not on BSC. If a token is only on BSC, exchanges will not accept it. They will require dual chain, with a mandatory one is ERC20