- Coinbase adds 24/7 XRP, SOL, and ADA futures trading starting June 13.
- Altcoin futures gain traction with SOL and XRP leading in contract volume.
- Crypto market dips 2.9% despite Coinbase’s expanded futures offerings.
Coinbase will begin offering 24/7 futures trading contracts for XRP, Solana (SOL), and Cardano (ADA) starting June 13. By adding new contracts Coinbase makes a powerful effort to reinforce its position in the expanding altcoin derivatives market that sees growing trading volume along with higher investor interest. Previously the platform allowed constant trading for Bitcoin and Ethereum futures and now the addition of altcoins demonstrates its strategy to enhance trading access and flexibility.
Expansion Reflects Market Demand for Altcoin Futures
Coinbase confirmed that XRP, SOL, and ADA futures contracts will now trade continuously, aligning with the always-open nature of global crypto markets. This initiative allows U.S.-based traders to access CFTC-regulated futures products at any time. It also positions Coinbase to cater to the rising demand for altcoin exposure amid a competitive derivatives landscape.
The exchange noted that XRP futures contracts will be sized at 10,000 XRP each and settled in USD. These contracts also include a 10% hourly price fluctuation limit to minimize risk. ADA futures will represent 1,000 ADA per contract, designed to balance capital exposure with individual trading strategies. Meanwhile, SOL futures are also included in this expansion, as the token continues to see high volume activity across global markets.
Contract Activity Grows as Coinbase Targets Derivatives Volume
Recent trading statistics highlight increasing traction for altcoin derivatives. Trading of Solana futures was the most active, leading with 23,000 contracts traded and XRP was the second most popular with over 13,000 contracts moving. As a result, more investors are interested in various crypto assets instead of just Bitcoin and Ethereum and this highlights a growing trend of mixing up derivative markets.
Coinbase’s expanded offerings arrive at a time when the global derivatives market accounts for over 75% of cryptocurrency trading activity. The company aims to capture a greater share of this volume by offering accessible trading options that operate outside traditional market hours. This development is likely to appeal to traders seeking flexibility in managing risk and strategy execution.
Market Declines Continue Despite Product Expansion
Despite the strategic expansion, the market response to these tokens remains muted. Solana’s trading price reached $163.80 after a decline exceeding 5%. XRP decreased by 4% to reach $2.18 while ADA experienced a more significant 7% drop to $0.7025. The crypto market experienced a 2.9% decline with its total valuation falling to $3.33 trillion which correlates with broader negative market trends.
Coinbase expanded its trading operations after facing scrutiny due to a recent data breach incident. The platform maintains its primary focus on market expansion within regulated markets by providing improved trading access and diversified product offerings.
