Coinbase To Launch Perpetual Futures For Render, Saga & Threshold

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As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed the evolution of trading instruments and their impact on various asset classes. The recent announcement by Coinbase to introduce perpetual futures contracts for Render (RNDR), Saga (SAGA), and Threshold (T) is an exciting development that mirrors the growth and maturity of the crypto market.

The crypto trading platform Coinbase has unveiled an offering for perpetual futures contracts on Render (RNDR), Saga (SAGA), and Threshold (T) via its International Exchange and Coinbase Pro platforms. After this announcement, these tokens experienced a rise in value as investors showed more trust in them.

Coinbase Perpetual Futures for Render, Saga & Threshold

Based on a recent post, it appears that crypto exchange Coinbase plans to expand its services by introducing Perpetual Futures Contracts for Render, Saga, and Threshold. These contracts will be available on both their International Exchange and Advanced trading platforms.

Starting at 09:30 AM UTC on August 29, 2024, trading for the newly introduced perpetual futures contracts RENDER-PERP, SAGA-PERP, and T-PERP will become available.

Starting from August 29, 2024 (9:30 am UTC), Coinbase International Exchange and Coinbase Pro will extend their offerings to include perpetual futures for Render, Saga, and Threshold. This means we’ll be launching our RENDER-PERP, SAGA-PERP, and T-PERP markets. Trading with $RENDER, $SAGA, and $T tokens will soon be available on our platform.
— Coinbase International Exchange (@CoinbaseIntExch) August 22, 2024

Having spent years trading both traditional and cryptocurrency markets, I can attest to the power of leverage and perpetual futures contracts as tools for maximizing profits. Leverage allows traders like myself to control larger positions than we could otherwise afford, magnifying potential gains during market movements. This has been particularly beneficial in the fast-paced crypto market where price swings can happen rapidly and dramatically.

EURC Conversion and Polygon Support

As a researcher, I’m excited to share that the platform has unveiled a new feature: one-to-one conversion of euros to the Euro-pegged stablecoin, EURC, commencing August 28, 2024. This service will be accessible through Coinbase Advanced, and here’s the best part – there won’t be any fees associated with it!

Having worked for years in the cryptocurrency industry, I have witnessed a significant lack of clear regulatory framework that could provide a sense of security and legitimacy to both investors and businesses involved. That’s why I am particularly excited about the Markets in Crypto Assets (MiCA) regulations set by the European Union. As someone who has dealt with countless instances of fraud and uncertainty, I can attest to the importance of having a legal framework that facilitates transparent and secure transactions within the EU. MiCA will provide much-needed clarity for all parties involved, ensuring that the crypto market becomes a more trusted and reliable place for everyone.

The cryptocurrency trading platform has recently enabled transactions involving the Polygon Ecosystem Token (POL) on both the Polygon and Ethereum blockchains. This integration now provides users an easy and valuable way to engage with our platform using POL.

RNDR, SAGA, & T Price Trend

After the announcement, the price of RENDER peaked at an intra-week high of $5.06, but then met resistance at its 24-hour low of $4.57. Simultaneously, the market capitalization and daily trading volume significantly increased by 8% and 137%, respectively, reaching a market cap of $1.95 billion and a trading volume of $64.65 million. At the moment, RENDER is being traded at $4.98, showing an 8% increase in the last day and a 10% growth over the past week.

In a surprising move, even during a generally bearish week, SAGA joined the ranks of companies supported by Coinbase, exhibiting an upward price trend. Currently, at the time of writing, SADA has increased by 3% to $1.27. This bullish run has also caused a 3% rise in its market capitalization and a significant 41% surge in trading volume. At present, the market cap stands at $126,453,700, and the trading volume amounts to $34,432,894.

Moreover, Threshold (T) saw a fluctuation in its price, ranging from $0.02361 at its highest point to $0.02281 at its lowest during the day. This suggests that the bulls have been in control. At the time of reporting, T had risen by 2%. Interestingly, despite this positive trend, the trading volume decreased by 3%, while both its market cap and total market cap increased. Specifically, the market cap grew by 2% to $11,142,925, and the total market cap swelled to $229,498,220, respectively. This rise occurred despite the recent positive development.

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2024-08-22 21:48