Coinbase Expands Trading Options with Perpetuals for Hot Altcoins

The prominent crypto exchange Coinbase is making significant expansion moves in the global market, despite legal issues within the United States.

Coinbase is actively working to increase its presence and relevance worldwide by adding more products for its clients. The exchange has recently expanded its trading options to include perpetual trades for some trending altcoins.

The Coinbase International Exchange took to its official X account to reveal its extended support for some prominent and trending altcoins, such as Dogecoin (DOGE), Cardano (ADA), Stellar (XLM), and Chainlink (LINK).

Coinbase International Exchange will add support for Cardano, Chainlink, Dogecoin, & Stellar perpetual future contracts on Coinbase International Exchange & Coinbase Advanced. The opening of our ADA-PERP, LINK-PERP, DOGE-PERP, and XLM-PERP markets will begin on or after 10am UTC on 30 NOV 23.

The exchange noted that the altcoins will be listed on November 30, with support for the assets being through perpetual futures contracts, a notable crypto derivative trading option on its platform.

Coinbase’s expansion in its newly launched international trading branch serves as an attractive edge for more users and investors across the globe.

With the addition of the four altcoins to its trading list, Coinbase International now has a total of ten tradeable contracts on its platform, expanding its reach and appeal to a wider audience.

Notably, investors get exposure to the price trend of assets through perpetual futures contracts without direct acquisition of the underlying assets.

Usually, perpetual contracts are different from time-based future contracts in terms of stated settlement periods like weekly, monthly, quarterly, and others.

Coinbase International recently achieved a remarkable feat through its massive trading volume of over $4.7 billion for its listed pairs over the past 30 days, and it is gearing up for even more with the soon-coming listing of more altcoins and assets. This is set to further expand its user base and drive more trading activity on the platform. 

With the upcoming listing of prominent altcoins and the increase in trading options, Coinbase International is positioning itself as a leading player in the global cryptocurrency market, attracting both institutional and retail investors looking for diversified and attractive investment opportunities.

Source: Tech Report

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