While Bitcoin and altcoins experienced an unexpected surge, Coinbase, the largest cryptocurrency exchange in the US, made a significant move by introducing a derivatives product for Base App users.
According to Decreypt, Coinbase has announced the integration of HyperLiquid’s perpetual futures trading feature into its Base app.
Coinbase, thanks to its Hyperliquid integration, allows eligible users to access over 290 perpetual futures markets through the Base app.
Hyperliquid Base is Moving to the App!
Coinbase’s new integration allows users to perform leveraged perpetual trading without leaving the Base App.
At this point, the interface for transactions is provided within the Base App, while the Hyperliquid infrastructure is used for order execution and liquidity provision.
Supported assets include cryptocurrencies such as Bitcoin (BTC) and Ethereum, as well as stock and commodity markets. Coinbase also added in its statement that leverage can reach up to 50x depending on the asset being traded.
According to Coinbase, the new system allows users to leverage Hyperliquid’s on-chain transaction infrastructure and liquidity without leaving their existing wallets.
One of the Most Requested Features!
Speaking to Decrypt, Coinbase Head of Engineering Chintan Turakhia stated that perpetual futures account for approximately 75 percent of trading volume in the crypto market, and that these products are one of the most requested features by active users of the Base App.
Not Available in Every Country!
Coinbase’s new perpetual futures service will be unavailable in the US, UK, Canada, and some other regions where leveraged crypto derivatives trading is restricted. Therefore, the 50x leverage feature will not be available to all Base App users.
*This is not investment advice.
