Cardano (ADA) and Dogecoin (DOGE) will receive additional support from Coinbase: details

TL; DR

Coinbase adds new perpetual futures: Coinbase is introducing perpetual futures contracts for Cardano, Dogecoin, Chainlink, and Stellar, allowing users to predict their future values. Minimal market impact: The announcement had little impact on the market, with some of the cryptocurrencies involved showing a modest decline. Cancellation of trading pairs in progress: Coinbase has recently canceled 80 trading pairs to improve the liquidity and health of the market, pending trading of these coins with USDC balances in certain regions.

Coinbase fixed supply

One of the largest cryptocurrency exchanges by trading volume – Coinbase – has decided to extend its support to four cryptocurrencies. Those include Cardano (ADA), Dogecoin (DOGE), Chainlink (LINK) and Stellar (XLM), including in perpetual futures contracts with the company.

The correct trading pairs are ADA-PERP, LINK-PERP, DOGE-PERP and XLM-PERP, as those will be available to clients on November 30th.

Continuous futures contracts allow users to estimate the future price of a particular asset without an expiration date. They can also last indefinitely.

Coinbase's announcement did not result in significant volatility for the aforementioned assets, some of which experienced modest declines on a daily basis. XLM is down 5%, while LINK is down 6% (according to CoinGecko data).

Coinbase's Delisting Efforts

In addition to adding more tokens to its existing services, the exchange has removed some over the past few months. In October, he Canceled. 80 trading pairs from Coinbase Exchange, Advanced Trading and Coinbase Prime “to improve overall market health and strengthen liquidity.

Some of these include AGLD-USDT, BNT-BTC, SUSHI-BTC, ZEN-BTC and many more. Coinbase Advanced Trading users in eligible jurisdictions can still trade these coins using USDC balances, the team explained.

Before that, the organization It is blocked Trading with BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI) and Voyager (VGX).