KeyTakeaways:
Coinbase to checklist PENGU, Popcat, and Helium futures on Feb 13, 2025.The launch goals to reinforce liquidity and entice institutional merchants.Whale exercise surges with vital purchases of Solana meme cash.
Coinbase has introduced the upcoming launch of perpetual futures contracts for 3 digital belongings—PENGU, Popcat, and Helium (HNT). These contracts will develop into out there on Coinbase Worldwide Alternate and Coinbase Superior on February 13, 2025, beginning at 9:30 AM UTC. This transfer is a part of Coinbase’s ongoing efforts to develop its choices and improve its derivatives market.
Introducing the PENGU-PERP, POPCAT-PERP, and HNT-PERP markets is predicted to extend liquidity and entice institutional merchants. Perpetual contracts permit merchants to take leveraged positions, thus providing alternatives for threat administration and deeper market participation.
As with earlier listings of by-product merchandise, these contracts might additionally increase the buying and selling quantity for the listed tokens, leading to heightened market exercise.
Value Actions Following Announcement
The announcement has already triggered notable value fluctuations throughout the three tokens. Following the information, Pudgy Penguins (PENGU) noticed its value rise from $0.011 to just about $0.012, whereas Popcat skilled a leap from $0.210 to $0.230 earlier than retracting barely.
Helium (HNT) noticed its buying and selling quantity enhance by 8.65%, reaching $8.67 million, reflecting rising anticipation for the brand new futures contracts.
The launch of the perpetual futures markets just isn’t solely attracting retail merchants but in addition sparking curiosity amongst crypto whales. A latest giant transaction noticed a whale buying 5.77 million POPCAT tokens for $3.83 million. This surge in whale exercise has additional fueled market sentiment and is predicted to drive extra consideration towards Solana meme cash.This transfer aligns with Coinbase’s broader technique to diversify its merchandise and reply to altering market situations. By providing leveraged futures contracts for these tokens, Coinbase is increasing its derivatives market to cater to growing demand from institutional and retail merchants. The platform’s proactive stance goals to solidify its place as a frontrunner within the digital asset area.
