While bitcoin and altcoins have unexpectedly surged sharply, Coinbase, the largest cryptocurrency exchange in the United States, has taken a significant step by introducing a derivatives trading product to users of its Base App.
According to Decrypt, Coinbase announced the integration of perpetual futures trading functionality from HyperLiquid into its Base application.
Through the integration with Hyperliquid, Coinbase provides eligible users access to over 290 perpetual futures markets via the Base app.
Hyperliquid Base to Appear in the App!
Coinbase's new integration allows users to execute leveraged perpetual trades without leaving the Base application.
At this stage, the transaction interface is provided within the Base app, while Hyperliquid's infrastructure is used for order execution and providing liquidity.
Supported assets include cryptocurrencies such as Bitcoin (BTC) and Ethereum, as well as stock and commodity markets. Coinbase also added in its statement that leverage can reach up to 50x depending on the asset being traded.
According to Coinbase, the new system allows users to utilize Hyperliquid's blockchain-based transaction infrastructure and liquidity without having to leave their existing wallets.
This Was One of the Most Requested Features!
In an interview with Decrypt, Coinbase's Head of Development, Chintan Turakhia, stated that perpetual futures account for approximately 75 percent of the trading volume in the cryptocurrency market and that these products are among the most requested features by active users of the Base app.
Not Available in All Countries!
Coinbase's new perpetual futures service will not be available in the US, UK, Canada, and some other regions where leveraged cryptocurrency derivatives trading is restricted. Consequently, the 50x leverage feature will not be available to all Base app users.
*This is not investment advice.
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