Coinbase To Launch Perpetual Futures For Toncoin, Bittensor & Tellor
Coinbase, a major player in the cryptocurrency exchange market, has announced its plans to introduce perpetual futures contracts for three significant cryptocurrencies, Toncoin (TON), Bittensor (TAO), and Tellor (TRB). This move represents a substantial expansion of their product offerings, catering to the growing demand for futures trading in the crypto market.
Impact and Implications of New Perpetual Futures Markets
The introduction of perpetual futures markets for TON, TAO, and TRB represents a significant advancement in the cryptocurrency trading ecosystem. This expansion provides investors with more sophisticated trading options, allowing them to engage with these popular digital assets in new ways.
The new perpetual futures contracts will be available for trading on both the Coinbase International Exchange and Coinbase Advanced platforms. The launch of the TAO-PERP, TON-PERP, and TRB-PERP markets is scheduled to begin on or after 9:30 am UTC on July 25, 2024. This development showcases their commitment to diversifying its product range and meeting the evolving needs of cryptocurrency traders.
By offering perpetual futures contracts, they are giving traders additional tools to manage risk and potentially profit from market movements. This move is likely to attract more advanced traders to the platform and could increase liquidity for these tokens. The decision to add these specific cryptocurrencies to their futures offerings indicates their responsiveness to market trends and user demands, potentially strengthening its position in the competitive cryptocurrency exchange landscape.
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Recent Coinbase Developments and Listings
In addition to the perpetual futures announcement, Coinbase has been actively expanding its offerings in other areas. The exchange recently revealed support for Ancient8 (A8), an ERC-20 token on the Ethereum network. They have implemented a phased approach for A8 trading, starting with enabling transfers in supported regions. The A8-USD trading pair will be launched gradually, contingent on meeting liquidity conditions.
Furthermore, they have introduced an “Experimental” label for A8, signifying that it’s either new to the platform or has lower trading volumes compared to other listed cryptocurrencies. This labeling system is part of their effort to promote transparency and help users make informed decisions when trading newer or less liquid assets on the platform.
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