Coinbase Adds Perpetual Futures for Solana-Based Meme Coin WIF
Coinbase recently announced the listing of perpetual futures linked to the Solana-based meme coin, dogwifhat (WIF), in its latest update on X.
Perpetual futures contracts, a popular derivative product, enable traders to speculate on the price movements of a cryptocurrency without needing to own it, distinguished by their lack of expiry dates unlike traditional futures contracts.
WIF hasn’t shown any significant price swings over the past 24 hours.
Moreover, WIF is available for trading on various platforms such as Gate.io, WhiteBIT, Pionex, and MEXC, with Binance accounting for a significant portion of its trading volume.
READ MORE: Kraken Introduces New Wallet for Secure Asset Management
Last month, WIF surpassed its meme coin rival, Pepe (PEPE), in market capitalization, with both tokens now valued at $2.5 billion and $2.1 billion, respectively.
However, both have experienced more than a 30% decline in the past week amid the broader cryptocurrency market downturn.
Coinbase International, launched in May and authorized to offer perpetual futures to non-US users in September, has been expanding its offerings. In December, Coinbase announced that institutional customers could access spot trading, limited to Bitcoin and Ethereum paired with the USDC stablecoin.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
