Coinbase Adds Support for New Perpetual Futures

Coinbase International Exchange, a leading crypto exchange, has announced the addition of three major cryptocurrencies to its platform

The new listings in question are Dymension (DYM), Maker (MKR), and Aave (AAVE) perpetual futures.

This update has sparked discussions about the potential impact on the prices of these assets.

Starting on or after 9:30 am UTC on August 1, 2024, Coinbase will offer Dymension, Maker, and Aave perpetual futures on both its International and Advanced Exchanges. This move aims to meet the growing demand for diverse crypto investment options.

Historically, listings on top exchanges like Coinbase often lead to positive price movements for the newly added assets. Such announcements are seen as endorsements, boosting investor confidence and driving up prices. The introduction of DYM-PERP, MKR-PERP, and AAVE-PERP markets is expected to follow this trend, potentially leading to price increases for these cryptocurrencies.

The crypto community is keenly observing how these new listings will influence the market. Positive announcements from major exchanges typically result in price surges due to increased visibility and accessibility, attracting more investors and traders.

Coinbase’s decision to support these perpetual futures is likely to enhance liquidity and trading volume, which often leads to higher demand and price appreciation. However, market conditions and investor sentiment will also play a crucial role in determining the price movements of these assets.