Coinbase to Introduce Perpetual Futures for Aerodrome Finance, Beam, and Drift Protocol

Coinbase has announced that it will be adding support for perpetual futures for three cryptocurrencies: Aerodrome Finance, Beam, and Drift Protocol. Perpetual futures trading for these assets will go live on Coinbase International Exchange and Coinbase Advanced on January 16, 2025.

Understanding Perpetual Futures

Perpetual futures, also known as “perps,” allow traders to speculate on the price of a cryptocurrency or other asset without an expiration date. This differs from traditional futures contracts, which have a set expiration date. Coinbase first launched perpetual futures trading in May 2023 and later expanded the service to non-U.S. retailers in September 2023.

Aerodrome Finance, Beam, and Drift Protocol: What You Need to Know

Perpetual futures contracts for AERO-PERP, BEAM-PERP, and DRIFT-PERP will be available on Coinbase International Exchange and Coinbase Advanced.

Aerodrome Finance is a decentralized exchange on Base, offering liquidity solutions for various digital assets. Beam, on the other hand, operates a gaming network powered by the BEAM token and has recently transitioned to a fully-fledged Layer 1 blockchain following Avalanche’s Etna upgrade. Drift is a Solana-based decentralized exchange (DEX) that enables users to trade, earn, and participate in prediction markets.

Market Impact

The announcement of perpetual futures support for these assets led to slight gains in their prices, with Aerodrome Finance, Beam, and Drift bouncing off intraday lows alongside other cryptocurrencies. However, as of the time of writing, all three assets remained in the red, having declined earlier in the day as Bitcoin struggled for upside momentum.

Tips for trading perpetual futures:

  • Understand the risks: Perpetual futures are a type of derivative instrument and carry risks, including market volatility and potential losses.
  • Set clear goals: Determine your investment goals and risk tolerance before trading perpetual futures.
  • Stay informed: Keep up-to-date with market news and analysis to make informed trading decisions.

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