Coinbase Derivatives Expands Trading Options
In a significant move to enhance its trading options, Coinbase Derivatives has opened the doors for its customers to engage in 24/7 trading of monthly futures contracts related to a diverse array of altcoins. This development allows traders to actively buy and sell futures on cryptocurrencies such as Shiba Inu, Avalanche, Bitcoin Cash, Cardano, Chainlink, Dogecoin, Hedera, Litecoin, and Stellar at any time throughout the week.
Monthly futures are essentially contracts that give traders the opportunity to predict the future prices of these digital assets instead of dealing directly with the coins themselves. By offering round-the-clock trading, Coinbase is eliminating previous limitations that restricted trading activities during set hours.
Recent Developments in Futures Trading
This rollout comes on the heels of Coinbase’s initial venture into always-available trading, which began with Bitcoin and Ethereum futures in the United States on May 9. The derivatives division of Coinbase revealed that they are now allowing traders to initiate or close leveraged positions in BTC and ETH futures at their convenience.
Furthermore, the platform has introduced perpetual-style futures for Bitcoin and Ethereum, designed to mimic the perpetual swaps typically found in international markets. These contracts employ a special funding rate to align the futures prices with the actual market prices.
Future Plans for Altcoin Futures
Looking ahead, Coinbase plans to expand its offerings even further. Starting December 15, the company will unveil US perpetual-style futures for various altcoins, which differ from their monthly counterparts in that they have no set expiration date. This feature allows traders the flexibility to maintain their positions as long as they wish while utilizing leverage.
With these advancements, Coinbase continues to position itself as a leader in the evolving landscape of cryptocurrency trading.
