KeyTakeaways:
Coinbase to checklist PENGU, Popcat, and Helium futures on Feb 13, 2025.The launch goals to reinforce liquidity and entice institutional merchants.Whale exercise surges with important purchases of Solana meme cash.
Coinbase has introduced the upcoming launch of perpetual futures contracts for 3 digital property—PENGU, Popcat, and Helium (HNT). These contracts will turn into out there on Coinbase Worldwide Change and Coinbase Superior on February 13, 2025, beginning at 9:30 AM UTC. This transfer is a part of Coinbase’s ongoing efforts to broaden its choices and improve its derivatives market.
Introducing the PENGU-PERP, POPCAT-PERP, and HNT-PERP markets is anticipated to extend liquidity and entice institutional merchants. Perpetual contracts enable merchants to take leveraged positions, thus providing alternatives for threat administration and deeper market participation.
As with earlier listings of spinoff merchandise, these contracts might additionally increase the buying and selling quantity for the listed tokens, leading to heightened market exercise.
Worth Actions Following Announcement
The announcement has already triggered notable worth fluctuations throughout the three tokens. Following the information, Pudgy Penguins (PENGU) noticed its worth rise from $0.011 to just about $0.012, whereas Popcat skilled a leap from $0.210 to $0.230 earlier than retracting barely.
Helium (HNT) noticed its buying and selling quantity enhance by 8.65%, reaching $8.67 million, reflecting rising anticipation for the brand new futures contracts.
The launch of the perpetual futures markets will not be solely attracting retail merchants but additionally sparking curiosity amongst crypto whales. A current giant transaction noticed a whale buying 5.77 million POPCAT tokens for $3.83 million. This surge in whale exercise has additional fueled market sentiment and is anticipated to drive extra consideration towards Solana meme cash.This transfer aligns with Coinbase’s broader technique to diversify its merchandise and reply to altering market circumstances. By providing leveraged futures contracts for these tokens, Coinbase is increasing its derivatives market to cater to rising demand from institutional and retail merchants. The platform’s proactive stance goals to solidify its place as a frontrunner within the digital asset house.
