Coinbase stock up as exchange announces crypto futures for US traders

Coinbase stock up as exchange announces crypto futures for US traders
фото показано с : invezz.com

2023-11-2 19:38

Coinbase, one of the leading cryptocurrency exchanges, saw its stock rise following the announcement of a new offering that allows US traders to access cryptocurrency futures through its platform. Coinbase stock jumped above $79 in the early trading hours before retracing below $77.50 at press time.

Coinbase stock price chart

The move comes after Coinbase obtained regulatory clearance to operate as a futures commission merchant (FCM) from the National Futures Association in August.

Futures trading for retail traders

In a blog post, Coinbase revealed that eligible US traders can now leverage regulated, leveraged cryptocurrency futures via Coinbase Financial Markets (CFM).

This new development caters to retail traders, commonly referred to as smaller investors, providing them with an opportunity to trade Bitcoin (BTC) and Ethereum (ETH) futures.

Coinbase has structured these contracts with retail traders in mind. The futures contracts are sized at 1/100th of a Bitcoin and 1/10th of Ethereum, significantly reducing the upfront capital requirements and making them an affordable investment option for a broader range of retail customers.

Global crypto derivatives market growth

The global crypto derivatives market represents approximately 75% of the global crypto trading volume, highlighting the increasing demand for derivative products in the cryptocurrency space. This move by Coinbase places it firmly in this expanding market segment.

This expansion into cryptocurrency futures trading positions Coinbase as a comprehensive platform for traders and investors interested in cryptocurrencies. It allows them to hedge their risk, diversify their portfolios, utilize leverage, and speculate on the market’s direction.

The announcement has been met with positive sentiment in the market, leading to a boost in Coinbase Global (NASDAQ: COIN) stock price.

The expansion into cryptocurrency derivatives is part of Coinbase’s strategy to supplement declining spot trading volumes and create new revenue streams. Analysts have noted that, while material revenues may not be immediate, Coinbase’s entry into the derivatives market could make it a leading platform for retail and institutional traders in the United States over time.

This development is a significant step in Coinbase’s ongoing efforts to cater to the evolving needs and demands of cryptocurrency traders. It allows more accessible options for cryptocurrency trading while adhering to federal regulations, ensuring investor protection and market integrity.

With this latest announcement, Coinbase continues to position itself as a key player in the cryptocurrency market, offering an array of services for both retail and institutional clients.

The post Coinbase stock up as exchange announces crypto futures for US traders appeared first on Invezz

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Filecoin [Futures] (FIL) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $5.1636
Капитализация $0 Rank 99999
Цена в час новости $ 3.9206 (-100%)

coinbase stock traders cryptocurrency futures jumped below

Источник: invezz.com

coinbase stock → Результатов: 126


Фото:

Coinbase seeks additional $1.25 billion funding via institutional investors

Coinbase said on Monday that it plans to raise about $1. 2 billion from private debt offering in a bid to inject funds, following the continuous underperformance of its Nasdaq-listed stock. The cryptocurrency exchange will also be granted the initial purchasers of the notes a 30-day option to buy up to an extra $187.

2021-5-19 14:20


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Is Algotech a ‘buy’ after reports of Bezos involvement in Amazon AI efforts?

Jeff Bezos is reportedly concerned that Amazon.com Inc may be falling behind its big tech peers in artificial intelligence. Bezos sees transformative potential in AI An anonymous source that talked to CNBC this week also revealed that the founder and former chief executive is “very involved” in what $AMZN is doing to excel in the […]

US Senate votes to overturn SEC rule, allowing regulated firms to hold Bitcoin

60-38 in the Senate voted in favour of overturning the SEC rule. Bipartisan support signals a potential shift in crypto regulation. Presidential veto possible. In a landmark decision, the US Senate has voted to overturn a key Securities and Exchange Commission (SEC) rule that barred regulated financial firms from holding Bitcoin and other cryptocurrencies.

Jack Dorsey predicts Bitcoin will reach $1 million by 2030 amid regulatory challenges

Twitter co-founder Jack Dorsey has projected that Bitcoin’s value could soar to at least $1 million by the year 2030. In a recent interview with journalist Mike Solana on Pirate Wires, Dorsey shared his bullish outlook for the cryptocurrency, suggesting that it might even surpass this milestone within the next decade. This statement comes as […]

KangaMoon price prediction after Pompliano’s bullish remarks on Bitcoin

The sell-off in Bitcoin following the halving event was not unexpected, says Anthony Pompliano. He’s the founder of Pomp Investments.  What Pompliano said in a CNBC interview BTC now has its 200-day MA at a record high despite recent volatility which suggests the world’s largest cryptocurrency “continues to trend upwards over the long run”, he […]