The crypto exchange Coinbase International has recently announced the imminent launch of support for perpetual futures trading $WIF for non-US users in certain jurisdictions, effective from April 25th.
Let’s see below all the details.
Summary
Perpetual Futures Trading WIF: Crypto Exchange Coinbase Expands Offerings
As anticipated, Coinbase International Exchange (CIE) and Coinbase Advanced are preparing to introduce perpetual futures trading for dogwifhat ($WIF +3.24%) by the end of this month.
Trading services for non-US users of the exchange will open perpetual futures trading for this memecoin based on Solana on April 25th at 9:30 UTC, as announced on Thursday by CIE in a post on X.
Approximately a week ago, the international platform Coinbase postponed its launch plans for perpetual futures based on Pepe. The opening of 1000PEPE-PERP on CIE was scheduled for April 18, as communicated by the exchange on X.
The impulse of CIE to launch a series of perpetual futures offerings on cryptocurrencies comes a year after obtaining regulatory approval to offer perpetual futures to non-US clients in selected jurisdictions.
However, obtaining approval to offer similar products in the United States has been more complex. American regulatory authorities show caution in authorizing offers of futures based on cryptocurrencies.
But last year Coinbase finally obtained approval from the National Futures Association to offer cryptocurrency futures trading to a limited number of US retail traders through Coinbase Advanced.
Coinbase is expanding its offerings of perpetual futures in a context of significant growth in the derivatives market.
Last month, trading volumes of derivatives increased by 86.5%, reaching $6.18 trillion, as reported by CoinDesk.
Coinbase and Binance add support for the new altcoin project OMNI
Two important crypto exchange platforms have expanded their support for a new altcoin project based on Ethereum (ETH), as announced through the social media platform X.
Coinbase, the leading cryptocurrency exchange in the United States, has stated that it will be adding Omni Network (OMNI) to its trading platform. Omni Network aims to integrate the Ethereum rollup ecosystem into a unified network.
Coinbase has classified the altcoin with the label “experimental”, reserved for riskier tokens with lower liquidity.
Meanwhile, Binance, one of the leading cryptocurrency exchanges globally, had already announced the addition of OMNI to Binance Launchpool.
Allowing users to bet coins to cultivate new resources before listing the token for spot trading on April 17th. Binance will apply a seed tag to OMNI, reserved for low liquidity projects that may show greater volatility.
Users holding assets with this tag will need to pass quizzes every 90 days to confirm awareness of the risks before trading the tokens.
The developers of the OMNI project describe the protocol as a secure, high-performance, and globally compatible architecture.
Furthermore, they argue that it establishes low-latency communications between all Ethereum rollups, presenting Ethereum as a single unified operating system for both users and developers.
Celsius Network transfers a significant amount in Ethereum to Coinbase
Celsius Network, a cryptocurrency lending platform, has recently transferred $24.5 million in Ethereum (ETH) tokens to Coinbase at an average price of $3,022 per ETH.
This transfer has become one of the most substantial in the industry. Celsius Network’s financial recovery strategy has been highlighted by the leading blockchain analysis company, Spot On Chain.
In this transaction, Celsius Network sent 8,091 units of Ethereum to Coinbase, representing the largest Ether withdrawal from the platform in the last three months.
The past Ethereum token transfer operations of Celsius Network, valued at a total of 1.9 billion dollars, have been analyzed to reflect a strategy of movement across various centralized exchanges from November 13, 2023 to January 31, 2024.
While reorganization plans usually involve a modified repayment plan, the bankruptcy code offers several options for debt distribution.
Celsius Network has recently announced that it has started repaying its crypto and fiat creditors for a total of 3 billion dollars, thus consolidating the completion of the bankruptcy procedure.
