Coinbase Expands Altcoin options for Perpetual Futures Trading
Coinbase, a prominent U.S.-based crypto exchange,has introduced several new altcoins as eligible collateral for perpetual futures trading.Sei, Pepe, Bonk, and Pump.fun now join the list of tokens that traders can use.
This expansion applies to the Coinbase International Exchange and Coinbase Advanced platforms. It aims to give traders more options and adaptability in managing their trades. the exchange shared the update via twitter, highlighting the benefits for users.
- PUM and AERO tokens rallied after the proclamation.
- this move follows Coinbase adding 12 cryptocurrencies as collateral in June.
- The leverage cap for perpetual futures was raised from 20x to 50x.
coinbase continues to enhance its services. They recently added perpetual futures for Horizen, UMA, and GMX. in August, the platform introduced decentralized exchange trading for select U.S. users.
Expanding collateral options makes it easier for traders to optimize their strategies. With a wider range of altcoins, users can better manage risks and opportunities in the market.
