Coinbase Announcement Uplifts BTC, ETH, XRP, ADA, DOGE Rally, Here’s Why
Crypto exchange Coinbase on Wednesday said it will increase leverage for perpetual futures trading on its Coinbase International Exchange and Coinbase Advanced. It will now offer 10x leverage on all listed perpetual futures contracts such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE). Traders reacted immediately to the announcement.
Coinbase Announces 10x Leverage On All Listed Crypto
According to a December 6 post on X, crypto exchange Coinbase International Exchange will now offer 10x leverage on all listed perpetual futures contracts. Users can now enjoy max leverage for all listed crypto on Coinbase International Exchange and Coinbase Advanced.
“Supercharge your strategies and make the most of market opportunities, now with 10x leverage on all listed perpetual futures contracts.”
The move comes as Bitcoin price crosses $44,000 amid a market-wide recovery. The global market cap shoots more than 4% in 24 hours, backed by massive trading volumes.
Coinbase International Exchange’s list of crypto perpetual contracts — BTC, ETH, XRP, SOL, ADA, DOGE, AVAX, LTC, LINK, MATIC, BCH, and XLM.
CoinGape reported that the exchange continues to expand perpetual contracts offerings by introducing Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), Stellar (XLM), Polygon (MATIC), and Bitcoin Cash (BCH) recently.
Also Read: Societe Generale Launches Euro Stablecoin For Mass Crypto Trading
Massive Boost To Crypto Prices
The 10x leverage move by Coinbase will further push crypto prices upwards. Earlier, the exchange offered leverage up to 10X on selected crypto, which was based on the base initial margin. However, it wants uses to take the opportunity of the ongoing crypto market rally.
BTC price jumped 5% in the past 24 hours, with the price currently trading at $43,786. The 24-hour low and high are $41,450 and $44,408, respectively. Furthermore, the trading volume has increased by 10% in the last 24 hours, indicating a rise in interest among traders.
Altcoins ETH, XRP, SOL, DOGE, and LTC prices climbed higher after the announcement. Analysts predict a rally in altcoins as BTC price takes a respite.
Also Read: Bitcoin Ordinals And BRC-20 Will Cease To Exist, Says Bitcoin Core Dev Luke Dashjr
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