As a researcher with a background in cryptocurrency markets and trading, I am thrilled about Coinbase’s latest announcement of adding three new cryptocurrencies to their perpetual markets: ONDO, PYTH, and ZETA. This strategic move showcases Coinbase’s dedication to providing diverse trading opportunities for its users and staying competitive in the ever-evolving crypto landscape.
In a proactive and visionary decision intended to enhance the crypto trading experience and attract more user activity, Coinbase, a prominent name in the global cryptocurrency exchange market, has made an intriguing announcement. The company has introduced three new cryptocurrencies into its perpetual markets, thereby increasing the selection for its worldwide users. This addition is an extension of Coinbase’s continuous endeavor to offer varied trading choices and maintain a competitive edge in the rapidly developing crypto marketplace.
Enhancing Trading Accessibility and Services on Coinbase
To provide a smooth trading journey for its users, Coinbase has carefully coordinated the introduction of ONDO-PERP, PYTH-PERP, and ZETA-PERP pairs for perpetual trading. Starting today, May 23, these new pairs are accessible for trading on the perpetual markets. Both Coinbase International Exchange and Coinbase Advanced platforms support these markets, offering various order types such as limit, market, stop, and stop-limit orders.
The ONDO-PERP, PYTH-PERP, and ZETA-PERP markets will begin in a “post-only” stage on Coinbase International Exchange and Coinbase Pro. In this period, clients can submit and withdraw limit orders, yet no matching of orders will occur. This post-only phase is required to last for at least one minute, ensuring a seamless and regulated progression into normal trading activity.
Market Analysis and Performance of Newly Added Cryptocurrencies
Amidst the recent buzz surrounding these new cryptocurrency trading pairs, it’s crucial to assess their market performance. The current price of Ondo (ONDO) stands at $0.9847, with a significant trading volume of $195.7 Million in the last 24 hours. This equates to a noteworthy 6.77% price rise within the past day and an impressive 14.30% surge over the last seven days.
Today, Pyth Network (PYTH) is valued at $0.4542, with a trading volume of approximately $115 million during the last 24 hours. This figure marks a decrease of 2.95% in comparison to the previous day’s price. Over the past week, however, Pyth Network has experienced a rise of 3.62%. As for ZetaChain (ZETA), its current value is $1.56, with a trading volume of around $28 million within the last 24 hours. The price of ZetaChain has witnessed a decrease of 3.04% in the last day and a more substantial decline of 7.80% over the past week.
In the US, Coinbase – the leading crypto exchange in terms of trading volume – experienced substantial outflows amounting to 47.9%, driven by market instability. Concurrently, its trading activity exceeded $3 billion. Bybit, the second-largest global crypto exchange, witnessed a 30.5% decrease, but its trading volume remained robust at approximately $5.04 billion.
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2024-05-23 14:49