- Coinbase is set to launch perpetual futures contracts for PENGU, Popcat, and Helium (HNT) on February 13, 2025.
- This move is anticipated to enhance liquidity and trading volume for these tokens, providing traders with leveraged exposure and risk management opportunities.
- Following the announcement, PENGU’s price increased from $0.011 to nearly $0.012, and Popcat rose from $0.210 to $0.230.
Coinbase International Exchange has announced the upcoming launch of perpetual futures contracts for three digital assets: Pudgy Penguins (PENGU), Popcat (POPCAT), and Helium (HNT). These new markets PENGU-PERP, POPCAT-PERP, and HNT-PERP are scheduled to become available to traders on or after 9:30 am UTC on February 13, 2025.
Coinbase continues to develop its derivatives strategy through these derivative offerings in digital assets. Through perpetual futures contracts for PENGU, Popcat, and Helium the exchange seeks to enable traders with leveraged exposure for risk management and enhanced market liquidity.
Market Reactions and Price Movements
Following the announcement, notable price movements were observed across the three tokens. Pudgy Penguins (PENGU) experienced an intraday low of $0.01086, reaching highs near $0.01201. Popcat’s price fluctuated between a low of $0.20412 and a high of $0.23170 before stabilizing.
Helium (HNT) saw its trading volume increase by 8.65% to $8.67 million, indicating heightened market activity.
Strategic Implications
The introduction of these perpetual futures contracts is expected to deepen liquidity and trading volume for PENGU, Popcat, and Helium. Exchange-traded futures markets have historically increased the participation of institutional and retail investors in trading markets. Coinbase pursues this initiative to follow its strategic move toward market expansions and changing conditions while capturing more trading participants.
In related developments, significant market activity has been observed in Solana meme coins, including Popcat. Notably, a crypto whale recently purchased 5.77 million POPCAT tokens for $3.83 million, indicating increased interest in these assets.
Overall, Coinbase’s expansion into perpetual futures for PENGU, Popcat, and Helium marks a significant step in enhancing its derivatives market offerings, with potential implications for market liquidity and trader engagement.
