The US-based cryptocurrency exchange giant Coinbase recently announced that leverage has been increased for perpetual futures trading within its Coinbase International Exchange and Coinbase Advanced branches. Consequently, users trading perpetual futures contracts will be offered 10 times leverage for all listed contracts, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE).
Coinbase Offers 10x Leverage on Bitcoin and 11 Altcoins
The cryptocurrency exchange Coinbase, through its official X (formerly known as Twitter) account, announced the provision of 10 times leverage on all its listed perpetual futures contracts. Users can now benefit from the maximum leverage for all cryptocurrencies listed on Coinbase International Exchange and Coinbase Advanced. The statement from Coinbase International Exchange read, “Empower your investment strategies and take full advantage of market opportunities with 10 times leverage on all our listed perpetual futures contracts.”
Currently, Coinbase International Exchange offers perpetual futures trading for Bitcoin, Ethereum (ETH), XRP (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), Avalanche (AVAX), Litecoin (LTC), Chainlink (LINK), and Stellar (XLM).
Leverage Increase Could Boost Bitcoin and Altcoins’ Prices
Coinbase’s move to offer up to 10 times leverage could further drive up the prices of Bitcoin and altcoins. Indeed, after the leverage announcement by Coinbase International Exchange, significant price increases were observed, especially in AVAX, DOGE, SOL, and ADA. While analysts expect a pause in the price increase of BTC, they anticipate stronger rallies for altcoins during this period.
Previously, Coinbase offered up to 10 times leverage on selected cryptocurrencies based on basic initial margin, but the cryptocurrency exchange seems eager to capitalize on the opportunities brought by the ongoing rally.
Current data shows that the largest cryptocurrency, Bitcoin, has seen a 5.23% increase in price over the last 24 hours, trading at $43,785. The crypto king’s lowest and highest price levels in the last 24 hours were $41,450 and $44,408, respectively. Moreover, Bitcoin’s trading volume has increased by 10% in the last 24 hours, continuing to attract investor interest.
Read the full article here