Coinbase will soon enable support for Solana and Avalanche perpetual future contracts

In addition, if liquidity requirements are reached, the SOL-PERP and AVAX-PERP markets on Coinbase will be live on November 14 at 4 PM UTC.

Commodity Futures Trading Commission (CFTC)-supervised self-regulatory group National Futures Association (NFA) certified Coinbase in August. Coinbase is now able to serve as a Futures Commission Merchant (FCM) thanks to this accreditation.

As a result, on August 16th, US users of Coinbase were able to trade federally authorized margined crypto futures. CEO of Coinbase Brian Armstrong called it a “significant milestone for crypto regulatory clarity in the U.S.”

On October 19, Coinbase was given approval to offer perpetual futures trading to customers outside the US. Linda P. Jones, author of “3 Steps to Quantum Wealth,” posted on X (formerly Twitter) on the implications of this approval for trading XRP futures on the cryptocurrency exchange.

One of the three key consequences Jones predicted as a result of this development was a bullish season for XRP. Jones continued, “Futures contracts are commonly traded by hedge funds and other financial entities on Wall Street.

The focus here is on institutional investors rather than retail trading. For XRP bulls, this portends a large flood of institutional money looking to capitalize on the volatility.”

In the crypto market, perpetual futures contracts have been growing in popularity. Binance, a competitor of Coinbase, has acquired the greatest volume, with OKX Exchange coming in a close second.

Bloomberg highlighted Conor Ryder, a research analyst at Kaiko, who stated that the ratio of Bitcoin perpetual to spot activity is at its highest position in over two years. Since perpetual contracts (or “perps” for short) never expire, he said, they are gaining popularity among traders.

Also Read: Bithumb Aims To Be The First Crypto Exchange To Be Traded On The Korean Stock Exchange