Coinbase To List Perpetual Contracts For PENGU, POPCAT & Helium

Coinbase has announced plans to introduce perpetual futures contracts for three digital assets—PENGU, Popcat, and Helium (HNT). The new markets will launch on Coinbase International Exchange and Coinbase Advanced on February 13, 2025. The announcement has triggered increased market activity, with notable price movements across the three tokens.

Coinbase Expands Futures Offerings with PENGU, Popcat, and Helium

Coinbase International Exchange confirmed the listing of perpetual futures for PENGU, Popcat, and Helium (HNT). The new markets, PENGU-PERP, POPCAT-PERP, and HNT-PERP, will become available to traders on or after 9:30 am UTC, February 13, 2025. This expansion follows Coinbase’s broader efforts to enhance its derivatives offerings for digital assets.

These perpetual contracts might help in deepening the liquidity and trading volume for the three tokens. In the past, exchange traded futures markets have enhanced trading participation by institutions and the public.

The listing provides traders with leveraged exposure to the assets, offering opportunities for risk management.

By listing in these futures contracts, the top crypto exchange will cater for the increasing demand in the trading products. The plan fits into the exchange’s strategic direction of diversification as a way of responding to market conditions. The addition of PENGU, Popcat, and Helium futures could attract a wider audience of traders.

Market Reaction Following the Announcement

Following the announcement, the prices of PENGU, Popcat, and Helium experienced immediate movements. After the announcement, Pudgy Penguins (PENGU) price moved from an intraday low of $0.011 to highs nearing $0.012.

Popcat price moved from a low of $0.210 to a high of $0.230 earlier in the day before retracing to its current level. Moreover, Helium (HNT) price trading volume increased by 8.65% to $8.67 million, indicating heightened activity. These price fluctuations reflect growing anticipation for the upcoming futures markets.

In other news, the top crypto exchange has filed an amicus brief in the Prime Trust bankruptcy case, advocating for customer asset protections under UCC Article 8. The filing will ensure that customer funds remain separate from the custodian’s bankruptcy estate, preserving trust in financial institutions.

Meanwhile, crypto whales have been betting big on Solana meme coins, including POPCAT, with a whale recently purchasing 5.77 million POPCAT for $3.83 million. The surge in whale activity has sparked interest in Solana meme coins.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.