Coinbase broadens its perpetual markets by introducing ONDO, PYTH, and ZETA, presenting traders with fresh opportunities amidst market volatility.
In a strategic and forward-looking move to enrich the trading landscape and enhance user interaction, Coinbase, a leading global cryptocurrency exchange, has unveiled an exciting update. The platform has expanded its perpetual markets by adding three new cryptocurrencies, thereby widening the range of options for its global user base. This expansion aligns with Coinbase’s ongoing commitment to offer diverse trading opportunities and remain competitive in the dynamic cryptocurrency arena.
Improving Trading Accessibility and Services on Coinbase
In line with its dedication to delivering a seamless trading experience, Coinbase has meticulously executed the introduction of these new perpetual trading pairs. Trading for ONDO-PERP, PYTH-PERP, and ZETA-PERP is now fully operational as of May 23, accessible on both Coinbase International Exchange and Coinbase Advanced. Various order types, including limit, market, stop, and stop-limit orders, are available on Coinbase’s markets, ensuring comprehensive trading capabilities.
Initially, the ONDO-PERP, PYTH-PERP, and ZETA-PERP markets will enter post-only mode on Coinbase International Exchange and Coinbase Advanced. During this phase, customers can post and cancel limit orders, while no order matches will occur. This post-only mode will remain active for a minimum of one minute, facilitating a smooth and controlled transition to full trading.
Market Analysis and Performance of Newly Added Cryptocurrencies
Amidst these exciting developments, it’s crucial to analyze the market performance of the newly introduced cryptocurrencies featured in the trading pairs. Ondo (ONDO) is currently priced at $0.9847, boasting a 24-hour trading volume of $195.7 million. This reflects a 6.77% price increase in the last 24 hours and a 14.30% increase over the past seven days.
Pyth Network (PYTH) is valued at $0.4542, with a 24-hour trading volume of $115 million. Despite a 2.95% price decline in the last 24 hours, it has seen a 3.62% increase over the past seven days. ZetaChain (ZETA) is priced at $1.56, with a 24-hour trading volume of $28 million, showing a 3.04% decline in the last 24 hours and a 7.80% decline over the past seven days.
Furthermore, amidst market uncertainties, Coinbase, the largest crypto exchange by volume in the US, experienced outflows of 47.9%, with trading volume surpassing $3 billion. Bybit, the second-largest global exchange by volumes, saw a 30.5% plummet, although trading activity hovered around $5.04 billion.
