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Coinbase International Exchange is set to introduce Wormhole (W) perpetual futures trading, riding the wave of W’s remarkable price surge.
The move increases trading opportunities for users on both Coinbase International Exchange and Coinbase Advanced.
Wormhole futures trading on Coinbase
The Wormhole (W) perpetual futures trading on Coinbase International Exchange is scheduled to go live at 9:30 a.m. UTC on April 4.
@CoinbaseIntExch will add support for Wormhole perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our W-PERP market will begin on or after 9:30am UTC on 4 APR 2024, in regions where trading is supported. pic.twitter.com/NYB2vwdnFI
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) April 3, 2024
The initiative aims to cater to the growing demand for W trading amid its surge in price. However, access to the perp futures listing will be limited to regions where Wormhole trading is supported, as per Coinbase’s statement.
Besides Coinbase, other major cryptocurrency exchanges including Binance, OKX, Bybit, Bitget, Gate.io, and Backpack have disclosed their intentions to list the W token for trading.
This widespread support underscores the industry’s recognition of Wormhole’s innovative cross-chain protocol and the potential of its native token, W. Additionally, Wormhole has engaged its community through an extensive airdrop program, distributing over 617.3 million W tokens to eligible wallets across various chains, including Solana and Ethereum.
Claim your Whttps://t.co/GxyfY14hJd pic.twitter.com/ucUq2ahcUt
— Wormhole (@wormhole) April 3, 2024
Wormhole (W) price
The swift adoption of the W token by major exchanges has resulted in a notable price surge within a short trading period.
With widespread exchange support and community engagement initiatives, Wormhole could be poised for significant strides in the DeFi sector, with its native token, W, at the forefront of this evolution.
W token opened at $1.66 on Solana-based decentralized exchange OpenBook with a market capitalization of $2.98 billion and a fully diluted value figure of $16.5 billion.
Although the price of W has dropped to around $1.41 at press time, there is a general bullish sentiment prevailing in the market towards Wormhole’s cross-chain protocol which underscores W’s potential impact on the DeFi sector.
The post Coinbase to launch Wormhole (W) futures amid price surge appeared first on Invezz
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