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Key Points:
- Coinbase introduces perpetual contracts for Akash Network, Zcash, and Moonwell.
- This strategic expansion mirrors past successful strategies following Bitcoin and Ethereum perpetuals.
- Increased derivative options could enhance market depth and improve trading dynamics.
Coinbase International has announced the addition of perpetual contracts for Akash Network, Zcash, and Moonwell on its platforms, starting March 27, 2025, at 9:30 AM (UTC).
The move indicates a strategic expansion to include more altcoins, potentially increasing trading volume and liquidity for these tokens.
Coinbase Launches Perpetuals for Three Altcoins
Coinbase International's recent announcement introduces perpetual contracts for Akash Network, Zcash, and Moonwell on its exchange, effective March 27, 2025. This step mirrors past strategies where Coinbase expanded its derivatives offerings following the success of Bitcoin and Ethereum perpetuals. Greg Tusar, Vice President of Institutional Products at Coinbase, emphasized the company's mission to broaden access to regulated crypto derivatives via a blog post.
"The addition of AKT, ZEC, and WELL perpetuals demonstrates our commitment to expanding regulated crypto derivatives access. These new offerings will provide traders with more tools to manage risk and capitalize on market opportunities." — Greg Tusar, VP of Institutional Products, Coinbase.
The immediate impact of this introduction likely includes heightened trading activity and liquidity for the affected tokens. By offering more derivatives options for altcoins, traders can employ various strategies to manage risk and capitalize on potential market opportunities.
Market reactions have been positive. Traders have expressed optimism on social media about the increased availability of derivative instruments, expecting this development to lead to improved trading dynamics. Official comments from Greg Tusar have reaffirmed Coinbase's dedication to enhancing trading tools and supporting market growth.
Strategic Expansion Boosts Altcoin Market Dynamics
Did you know? The introduction of perpetual contracts for Akash and others reflects a growing trend since 2023, aligning with Coinbase’s expansion into derivative options across multiple altcoins, following similar moves by other leading exchanges.
Akash Network (AKT) price altered nearly -2.56% over the past 24 hours, currently trading at $1.20 on March 20, 2025. The market capitalization of AKT stood at approximately $297.89 million. CoinMarketCap data showed that daily trading volume turned by 35.68%, reaching $14.32 million.
Experts highlight the potential outcomes of this expansion. Financially, increased derivative options could enhance market depth and trading diversity. Technologically, it demonstrates Coinbase's commitment to innovation and adaptability in a rapidly evolving industry, consistently adapting strategies to meet the demands of modern crypto traders.