Markets
Coinbase Unveils New Cryptocurrencies on Perpetual Market, Price Rally Ahead?
In a strategic and innovative move that aims to enrich the trading ecosystem and promote greater user engagement, Coinbase, one of the world’s leading cryptocurrency exchanges, has made an exciting announcement. The platform added three new cryptocurrencies to its perpetual markets, further expanding the range 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.
Improving Trading Accessibility and Services at Coinbase
As part of its commitment to offering a seamless trading experience, Coin base meticulously planned the launch of these new pairs for perpetual trading. Trading is now fully open for ONDO-PERP, PYTH-PERP and ZETA-PERP on the perpetual markets from today, May 23rd. Coinbase markets are now in full trading mode on Coinbase International Exchange and Coinbase Advanced, with multiple 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 in Coinbase International Exchange and Coinbase Advanced. During this phase, customers can post and cancel limit orders, but there will be no order matching. 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 recently added cryptocurrencies
In the context of these exciting developments, it is essential to examine the market performance of cryptocurrencies featured in recently 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 in the last seven days.
The price of Pyth Network (PYTH) is $0.4542 today with a trading volume of $115 million in 24 hours. This represents a 2.95% price drop in the last 24 hours, but a 3.62% price increase in the last seven days. The price of ZetaChain (ZETA) is today $1.56, with a trading volume of $28 million in 24 hours. This represents a 3.04% price drop over the last 24 hours and a 7.80% price drop over the last seven days.
Additionally, Coinbase, the largest cryptocurrency exchange by volume in the United States, saw exits reaching 47.9% after market uncertainties, with a turnover above US$3 billion. Bybit, the second largest global exchange by volumes, plunged 30.5%, although trading activity was around US$5.04 billion.
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