EddieJayonCrypto

 19 Jul 24

tl;dr

Coinbase, a leading cryptocurrency exchange, will introduce perpetual futures contracts for three major cryptocurrencies, TON, TAO, and TRB. This expansion aims to meet the growing demand for futures trading in the crypto market. The contracts will be available on both Coinbase International Exchang...

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.

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.

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.

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.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
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