Coinbase Boosts RNDR with New Perpetual Futures Launching August 29, 2024
The post Coinbase Boosts RNDR with New Perpetual Futures Launching August 29, 2024 appeared on BitcoinEthereumNews.com.
Coinbase has taken a significant step forward by unveiling perpetual futures contracts for key cryptocurrencies Render (RNDR), Saga (SAGA), and Threshold (T), beginning trading on August 29, 2024. The introduction of a fee-free EURC conversion aligns with new EU regulations aimed at enhancing the commercial viability of crypto assets within Europe. After Coinbase’s announcement, RNDR experienced a remarkable surge, peaking at $5.06, while both SAGA and T demonstrated similar positive price movements. This article explores Coinbase’s recent innovations in perpetual futures and regulatory compliance, focusing on market responses and price trends for RNDR, SAGA, and T. Coinbase Expands Futures Offering with RNDR, SAGA & T On August 22, 2024, Coinbase announced its intention to introduce perpetual futures contracts for Render (RNDR), Saga (SAGA), and Threshold (T) on its International Exchange and Coinbase Advanced platforms. The launch of these futures contracts, which will initiate trading at or after 09:30 AM UTC on August 29, has significantly boosted investor sentiment. Perpetual futures, unlike traditional futures, do not expire, allowing traders to maintain positions for as long as they desire, which can lead to greater trading flexibility and potential profitability, especially in volatile markets. Positive Market Reactions and Trends The announcement has had a notable impact on the pricing of RNDR, SAGA, and T. Following the news, RNDR surged to an intra-week peak of $5.06, reflecting a robust 8% increase within 24 hours. Trading volume also saw a significant spike, climbing 137% to reach $64.65 million, which underlines a shift in market dynamics following Coinbase’s strategic move. With a market capitalization now standing at $1.95 billion, RNDR has clearly benefitted from this upward momentum, further establishing its presence as a leading altcoin. Innovation in Euro Transactions: Coinbase’s EURC Conversion In tandem with the launch of perpetual futures, Coinbase has integrated a new 1:1…
Filed under: News - @ August 22, 2024 9:27 pm