- Coinbase is set to list Solana and Avalanche perpetual futures on November 14, pending liquidity.
- The inclusion on Coinbase is expected to boost SOL and AVAX, attracting traders and potentially influencing prices.
- Solana and Avalanche joining Coinbase showcases confidence despite regulatory challenges.
Coinbase Global Inc. has made a significant announcement, revealing its plan to add support for Solana (SOL) and Avalanche (AVAX) perpetual futures contracts on its International exchange and Advanced platform.
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The listings are scheduled for November 14 at 16:00 (UTC), contingent on sufficient liquidity for the trading pairs, with SOL-PERP and AVAX-PERP among the planned markets. The inclusion of unique trading pairs on a leading platform like Coinbase opens up new avenues for traders to gain direct exposure to the assets in question.
Solana and Avalanche are positioned to receive a boost in visibility, potentially attracting a surge in trading activity. The historical precedent of Coinbase listings influencing the prices of underlying assets is well-established, as seen in the case of VeChain and VTHO.
Currently, both SOL and AVAX face some market headwinds. Solana‘s price, after weeks of a sustained uptrend, has dipped by 8.08% to $52.36, while Avalanche is down 11.80% to $16.47. The introduction of perpetual futures trading on Coinbase could act as a catalyst, reversing these negative trends and reinvigorating bullish momentum.
The decision to include SOL and AVAX indicates Coinbase’s confidence in these assets, even in the face of regulatory challenges. This development also places Solana and Avalanche among the elite cryptocurrencies featured on Coinbase’s International exchange and Advanced platform, which only recently introduced perpetual futures trading. The platform had initially limited this feature to Bitcoin, Ethereum, XRP, and Litecoin.
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