Coinbase to add perpetual futures for AERO, BEAM and DRIFT

by

Coinbase is planning to add the ability to trade perpetual futures contracts for Aerodrome Finance, Beam, and Drift Protocol in the near future.

Starting January 9th, as announced by Coinbase, continuous futures trading for Aerodrome Finance, Beam, and Drift will become available on both their International Exchange and Coinbase Pro (Advanced), allowing users to trade these cryptocurrencies in perpetuity.

Starting January 16, 2025, Coinbase will initiate trading for the AERO, BEAM, and DRIFT markets in perpetual format. These assets are scheduled to become available from 9:30 a.m. UTC onwards.

In simpler terms, perpetual futures, often referred to as “perps,” provide trading opportunities for investors to predict the long-term price movements of various assets such as cryptocurrencies.

Unlike traditional futures contracts, perpetuals (perps) do not have an expiration date set. In May 2023, Coinbase introduced perpetual futures trading, which they later extended to non-U.S. users in September. Notably, recent additions of crypto tokens supported on perps include ORDI, WLD, and PEPE.

After the recent announcement, Aerodrome Finance, Beam, and Drift experienced modest increases, rebounding from their daily lows along with other cryptocurrencies. Yet, at the time of writing, all three assets – AERO, BEAM, and DRIFT – were still showing losses, having dropped earlier in the day as Bitcoin (BTC) faced difficulties in maintaining an upward push.

Aerodrome Finance serves as a decentralized trading platform on Base, catering to liquidity needs across multiple digital currencies. On the other hand, Beam functions as a gaming ecosystem fueled by its own BEAM token. After implementing the Etna upgrade, Avalanche has facilitated Beam’s transformation into a comprehensive Layer 1 blockchain, opening up opportunities for increased growth and expansion within the network.

Simultaneously, Drift functions as a Solana-powered, decentralized trading platform where users can swap assets, generate returns, and engage with prediction market activities.

Read More

2025-01-09 20:35