Coinbase Unveil New Cryptos On Perpetual Market, Price Rally Ahead?

Coingapestaff
May 23, 2024 Updated May 29, 2025
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Highlights

  • Coinbase has introduced ONDO, PYTH, and ZETA to its perpetual markets, enhancing trading options for users.
  • The new trading pairs are now available on Coinbase International Exchange and Coinbase Advanced with full trading functionalities.
  • Market analysis reveals varied performance for the new additions, highlighting potential opportunities for traders amid broader market dynamics.

In a strategic and forward-thinking move aimed at enriching the trading ecosystem and fostering increased user engagement, Coinbase, one of the world’s leading cryptocurrency exchanges, has made an exciting announcement. The platform has added three new cryptocurrencies to their perpetual markets, further expanding the array of options available to its global user base. This expansion is part of Coinbase’s ongoing efforts to provide its users with diverse trading opportunities and to stay competitive in the rapidly evolving cryptocurrency landscape.

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Enhancing Trading Accessibility and Services on Coinbase

As part of its commitment to delivering a seamless trading experience, Coinbase has meticulously planned the rollout of these new pairs for perpetual trading. Trading is now fully open for ONDO-PERP, PYTH-PERP, and ZETA-PERP on the perpetual markets as of today, May 23. Coinbase’s markets are now in full trading mode on both Coinbase International Exchange and Coinbase Advanced, with various order types available, including limit, market, stop, and stop-limit orders.

The ONDO-PERP, PYTH-PERP, and ZETA-PERP markets will initially enter post-only mode on Coinbase International Exchange and Coinbase Advanced. During this phase, customers can post and cancel limit orders, but there will be no order matches. This post-only mode will last for a minimum of one minute, ensuring a smooth and controlled transition to full trading.

Also Read: US SEC Begins Talks on Ethereum ETF S-1 Registration: Report

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Market Analysis and Performance of Newly Added Cryptocurrencies

Against the backdrop of these exciting developments, it is essential to examine the market performance of the cryptocurrencies featured in the newly introduced trading pairs. The price of Ondo (ONDO) is $0.9847 today, with a 24-hour trading volume of $195.7 Million. This represents a 6.77% price increase in the last 24 hours and a 14.30% price increase over the past seven days.

The price of Pyth Network (PYTH) is $0.4542 today, with a 24-hour trading volume of $115 Million. This represents a 2.95% price decline in the last 24 hours but a 3.62% price increase over the past seven days. The price of ZetaChain (ZETA) is $1.56 today, with a 24-hour trading volume of $28 Million. This represents a 3.04% price decline in the last 24 hours and a 7.80% price decline over the past seven days.

Furthermore, Coinbase the largest crypto exchange by volume in the United States, saw outflows hitting 47.9% following market uncertainties, with trading volume pegged above $3 billion. Bybit, the second-largest global exchange by volumes, plummeted 30.5%, though trading activity stood at around $5.04 billion.

Also Read: Hong Kong Ethereum ETF Record Low Trade Volume Amid Ethereum Rally

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.