Coinbase International to Launch Futures for Polkadot

Coinbase International Exchange is set to expand its services by introducing futures for Polkadot, Internet Computer, and NEAR Protocol.

Beginning at 10 a.m. UTC on February 22 or thereafter, markets for DOT-PERP, ICP-PERP, and NEAR-PERP will be available, broadening the spectrum of trading opportunities. This development is in response to the rising trend in ether derivatives trading, as reported by CoinGlass, which saw the cumulative open interest for ETH futures exceed $10.1 billion.

In a similar vein, Derebit reported an all-time high in open interest for ether perpetual futures contracts, with figures crossing the $690 million mark.

Perpetual contracts, characterized by their lack of expiry date, allow for indefinite position holding, thereby providing a fluid trading landscape.

The increase in open interest along with a rise in the funding rate for ether perpetual futures from 0.00045% to 0.035% since the start of February indicates a growing optimism among traders and a positive market sentiment.

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