Binance removed Cardano (ADA) open futures contracts due to regulatory concerns from the US Securities and Exchange Commission (SEC).
This means that Cardano traders can only trade quarterly futures contracts on Binance. However, the removal did not have a negative impact on ADA prices, which rose by 6.70% in the last week of August.
Analysts believe that ADA will continue to appreciate in the third quarter of 2023 due to several ecosystem developments. Meanwhile, proprietary coin PepeCoin (PEPE) may fall further after three rogue members allegedly pulled the rug from the project. Carpet betting is a scam where the developers of a cryptocurrency project abandon it and take all the money from the investors. In this case, three former PepeCoin team members transferred more than 16 trillion PEPE tokens worth $15 million to various exchanges.
This news caused the price of PEPE to crash and some experts believe that Binance may delist the token in the near future. Investors are now turning to Borroe (ROE), a new platform that allows users to borrow and lend cryptocurrencies. Borroe recently raised $250,000 in a private sale of 25 million ROE tokens. In general, the cryptocurrency market is volatile and investors should exercise caution when investing in any token.