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Coinbase exchange has announced that new altcoins will be listed on their international futures trading platform, Coinbase International. The listed altcoins are:
Cardano (ADA)
Chainlink (LINK)
Dogecoin (DOGE)
Stellar (XLM)
The mentioned altcoins will start trading from 13:00 on November 30 (local Turkish time). Coinbase, had not been interested in the futures market for a long time. The company previously only served in the spot market. Coinbase International, launched for futures contracts, was created as a product mainly for outside the United States.
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In the field of cryptocurrency futures, users mostly resort to offshore exchanges such as Binance and Bybit. These exchanges offer more altcoin and trading pair options. Coinbase International is still in the stage of listing certain altcoins. Coinbase’s new altcoin listing seems to be part of the company’s efforts to increase its market share in the international market.
The Importance of the New Step for Coinbase Exchange
Coinbase’s new step is seen as a significant development in the cryptocurrency futures market. It is one of the largest cryptocurrency exchanges in the world, and the new altcoin listing will increase the company’s impact on this market. The reasons why the new altcoin listing by Coinbase is important are as follows:
Coinbase is one of the largest cryptocurrency exchanges in the world. Therefore, coinbase’s new altcoin listing will help these altcoins reach a wider user base. Coinbase used to only serve in the spot market. The company’s entry into the futures market will contribute to the growth of this market.
The listing of new altcoins by Coinbase will also increase competition in the cryptocurrency futures market. In addition to Coinbase, exchanges such as Binance, Bybit, and Huobi play a significant role in this market. These exchanges could extend their lists in response to Coinbase’s new altcoin listing.