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

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.

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.

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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