Summary: Coinbase International Exchange broadens its financial instruments by introducing futures for high-potential cryptocurrencies including Polkadot, Internet Computer, and NEAR Protocol. This strategic addition is set to commence on February 22 and is expected to cater to the growing demand for diverse trading options in the crypto derivatives market.

New Futures on the Block

Coinbase, a frontrunner in the cryptocurrency exchange domain, is poised to scale up its trading portfolio by integrating futures for Polkadot (DOT), Internet Computer (ICP), and NEAR Protocol (NEAR). These new offerings, slated to go live from 10 a.m. UTC on February 22, embody the exchange’s commitment to providing a broad spectrum of trading opportunities for its clientele.

Ether Derivatives Gain Momentum

The introduction of these futures parallels a significant uptick in ether derivatives trading. CoinGlass, a respected analytics platform, reports a staggering $10.1 billion in total open interest for ETH futures. Furthermore, Derebit, another heavyweight in the derivatives market, has witnessed a historic peak in open interest for ether perpetual futures contracts, with figures cresting at over $690 million.

The Perpetual Appeal

Perpetual contracts have carved a niche for themselves within the trading community, courtesy of their non-expiring nature. These instruments afford traders the flexibility to maintain positions for an indefinite period, thus fostering a more fluid and engaging trading landscape. The recent swell in open interest, coupled with a substantial rise in the funding rate for ether perpetual futures—from a modest 0.00045% at the onset of February to a robust 0.035%—signals an optimistic sentiment and a bullish stance in the market.