Coinbase Global, the global futures exchange of Coinbase, the largest cryptocurrency exchange in the USA, announced in its official statement that it has made a futures listing for Solana (SOL) and Avalanche (AVAX).
According to the statement, SOL-PERP and AVAX-PERP markets will be launched around 19:00 on November 14, 2023, if liquidity conditions are met.
Announced in May this year, Coinbase International emerged as a result of the company, which had not previously provided services in the futures market, wanting to take a share of the market gap that emerged after the FTX collapse.
Coinbase had said that the exchange would allow institutional users to trade perpetual futures in eligible countries outside the US.
The company is looking to reduce its reliance on spot trading revenue, which has negatively impacted its stock performance following disappointing quarterly earnings reports in the past. Persistent futures trading accounts for a significant portion of up to 75% of overall global cryptocurrency trading volume, according to the exchange.
The company is also trying to spread out risks related to regulatory uncertainties.
*This is not investment advice.
