You’re in for a Treat: Coinbase to List Perpetual Futures for ORDI and WLD
Good news awaits you as Coinbase International exchange is set to introduce perpetual futures for two altcoins β ORDI and WLD. This move signals a significant expansion in Coinbase’s derivative lineup, catering to sophisticated market participants.
Market Impact of Coinbase’s Announcement
The scheduled launch on April 11 targets institutional investors on Coinbase International and Coinbase Advanced. ORDI, different from the Bitcoin Ordinals protocol, remains an independent BRC-20 token. Despite the announcement, its price has fluctuated between $72 and $55 since mid-March, showing minimal impact.
- ORDI’s potential bullish trend might see it reach its $97 peak if it breaks the $72 resistance.
- Conversely, WLD has experienced a bearish trend, dropping by about 30% since late March to hover around the $6.61 support level.
Diversifying Financial Products
Coinbase’s move to add ORDI and WLD to its perpetual futures lineup is part of its strategy to diversify financial products. Previously, the exchange hinted at launching cash-settled futures for Dogecoin, Litecoin, and Bitcoin Cash, subject to CFTC approval.
- Perpetual futures allow traders to speculate on asset prices indefinitely without an expiration date.
- Coinbase’s strategy involves a self-certification route under CFTC Regulation 40.2(a) for quicker listings.
Coinbase’s Strategic Acquisitions
In 2022, Coinbase acquired the FairX derivatives exchange, solidifying its position in the regulated US futures market. Despite regulatory scrutiny, Coinbase successfully obtained approval for futures trading.
Hot Take: Future Prospects for ORDI and WLD
Exciting times lie ahead with Coinbase’s listing of perpetual futures for ORDI and WLD. Keep a close watch on these altcoins for potential growth opportunities!
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