- Coinbase, the United States’ largest cryptocurrency exchange, has announced the launch of perpetual futures for three altcoins.
- The exchange made the announcement via Twitter on August 15, detailing that these futures products will be available on Coinbase International Exchange and Coinbase Advanced platforms.
- Per the announcement, perpetual futures for dYdX (DYDX), Cosmos (ATOM), and Mantra (OM) will go live on August 22 at 15:30 UTC.
Coinbase expands its futures offerings with new perpetual contracts for dYdX, Cosmos, and Mantra, enhancing its international reach.
Coinbase’s Strategic Expansion in Futures Market
Coinbase has been strategically expanding its presence in the cryptocurrency futures market. The move to list perpetual futures for dYdX, Cosmos, and Mantra is a calculated effort to diversify their trading products and attract a wider range of international traders. These new futures offerings will be accessible on both Coinbase International Exchange and Coinbase Advanced platforms starting August 22, 2023.
Details of the New Perpetual Futures
Coinbase’s decision to introduce these perpetual futures aligns with the exchange’s broader strategy to cater to the evolving demands of the cryptocurrency market. The perpetual futures, listed as DYDX-PERP, ATOM-PERP, and OM-PERP, will provide traders with more options for leveraging their positions. Additionally, perpetual contracts offer the advantage of no expiration dates, allowing traders more flexibility in their investment strategies.
Past Success and Future Directions
Coinbase has a track record of successfully launching perpetual futures for a variety of altcoins, including but not limited to Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), and Stellar (XLM). Such initiatives have contributed significantly to the exchange’s growing dominance in the crypto trading space. With perpetual futures for DYDX, ATOM, and OM, Coinbase aims to continue this trend, ensuring it remains a preferred choice for traders worldwide.
Conclusion
Coinbase’s introduction of perpetual futures for dYdX, Cosmos, and Mantra marks another milestone in its robust expansion strategy. As the exchange broadens its product offerings, it continues to enhance its appeal among global traders. The launch of these futures products is poised to provide more trading opportunities, thereby cementing Coinbase’s position as a leading player in the cryptocurrency exchange market.
