KeyTakeaways:
- Coinbase to record PENGU, Popcat, and Helium futures on Feb 13, 2025.
- The launch goals to reinforce liquidity and appeal to 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 property—PENGU, Popcat, and Helium (HNT). These contracts will grow to be obtainable on Coinbase Worldwide Change 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 anticipated to extend liquidity and appeal to institutional merchants. Perpetual contracts enable merchants to take leveraged positions, thus providing alternatives for danger administration and deeper market participation.
As with earlier listings of by-product merchandise, these contracts may additionally enhance the buying and selling quantity for the listed tokens, leading to heightened market exercise.
Worth Actions Following Announcement
The announcement has already triggered notable worth fluctuations throughout the three tokens. Following the information, Pudgy Penguins (PENGU) noticed its worth rise from $0.011 to just about $0.012, whereas Popcat skilled a soar 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 is just not solely attracting retail merchants but in addition sparking curiosity amongst crypto whales. A latest massive 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 anticipated 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 pacesetter within the digital asset area.
