Coinbase Expands Futures Market with New Altcoin Listings

Coinbase, the leading cryptocurrency exchange in the U.S., has announced the addition of PancakeSwap (CAKE), Brett (BRETT), and ai16z to its futures trading platform.

PancakeSwap, a decentralized exchange built on Binance Smart Chain (BSC), utilizes CAKE as its governance token, allowing holders to participate in decision-making processes.

Given its strong ties to Binance, the listing of CAKE on Coinbase came as an unexpected move.

Meanwhile, BRETT, a memecoin native to the Base network, was also included in the futures offerings. However, the announcement had little impact on its price.

The third addition, ai16z, is another memecoin, but this one operates on the Solana blockchain.

Despite not being listed on Binance, ai16z has gained significant traction, with a market capitalization of $323 million.