Two Major Altcoins Will Receive Futures Support Via Coinbase
Coinbase Global, the preeminent cryptocurrency exchange in the United States, has officially declared the inclusion of Solana (SOL) and Avalanche (AVAX) in its global futures exchange
Two Major Altcoins Will Receive Futures Support Via Coinbase
Coinbase Global, the preeminent cryptocurrency exchange in the United States, has officially declared the inclusion of Solana (SOL) and Avalanche (AVAX) in its global futures
exchange. Despite a tumultuous 2022,
the company insists that crypto is not dead and adoption is still increasing at an exponential rate.
Getting involved
The genesis of Coinbase International, unveiled in May of this year, is a direct result of the company trying to tap into the vacuum left by the infamous collapse of FTX in the futures
market. Notably, Coinbase had
not gotten involved in this particular market segment before, but the company has nevertheless expressed its intention to cater to institutional users for perpetual futures trading in
eligible countries outside the United States.
With that in mind, the SOL-PERP and AVAX-PERP markets are slated for launch on November 14th, 2023. The launch is also contingent upon meeting certain parameters and
liquidity requirements, as outlined in
the official announcement.
A new opportunity
In a bid to diversify revenue streams and mitigate the impact of lackluster stock performance, particularly after underwhelming quarterly earnings reports, Coinbase has decided to try
different trading techniques and
tap into new markets, not just spot trading.
With that in mind, the exchange notes that perpetual futures trading constitutes a substantial portion of the overall global cryptocurrency trading volume, up to 75% in fact. In addition,
the company is proactively
managing regulatory uncertainties by spreading out risks, aligning with its broader strategy for a more resilient business approach. Coinbase representatives informed the press to stay
