Here’s why Bitcoin is the most trustworthy coin in the crypto arena
It’s likely you’ve been asking, just what’s shaking up the crypto arena after so much noise about the NFT world kind of going by the wayside.
Coinbase, a leading player, is making waves, and here’s how. Coinbase recently shared that its advanced platform, Coinbase Advanced, will soon roll out the red carpet for some customers to dive into perpetual futures. And what’s the buzz? Coinbase’s stock got a juicy boost by nearly three percent, touching a high of $73.44.
If you’ve been a stock market enthusiast, you’d know the impressive journey of Coinbase’s stock—it’s more than doubled this year! But why the hype around perpetual futures?
The Lure of No Expiry
Distinct from your regular futures contracts, perpetuals don’t have a ticking time bomb—no expiration date. They’re tied closely to the asset they represent, making them a darling among investors. Here’s the catch—they’re a game-changer as they let traders play big without a hefty capital.
May this year saw Coinbase extending its playground. It introduced its international exchange, a move that let institutions outside Uncle Sam’s land to indulge in perpetual futures trading. And they didn’t halt there! They got a thumbs up to offer regulated crypto futures in the US.
This puts Coinbase in the big league, rubbing shoulders with giants in the crypto world.
Coinbase vs. Binance
Thursday’s green signal has put Coinbase on a direct collision course with Binance, a heavyweight in the crypto perpetual futures arena. But here’s the twist—Binance has been in the regulators’ crosshairs more often than not.
Playing it smart, Coinbase stresses its status as the “most trusted and safest name in crypto.” With regulatory hiccups becoming the norm, is Coinbase trying to be the knight in shining armor for investors?
It’s not all sunshine and rainbows for Coinbase either. They had a rendezvous with the Securities and Exchange Commission (SEC) recently. The SEC raised an eyebrow, hinting that Coinbase might be functioning as an unregistered securities exchange. However, Coinbase stands its ground, refuting these claims.
Just this week, Coinbase put on its lobbying shoes, heading to Washington, D.C. Their mission? Persuade the big guns to draft clearer rules for crypto trading in the US.
With its entry into perpetual futures, Coinbase isn’t just adding another feather to its cap. It’s echoing the evolutionary strides of the crypto arena. As it broadens its services, it’s also reshaping the global crypto arena.
And as the horizon of digital currency expands, what does the future hold for investors and traders? Will Coinbase’s moves set new trends or redefine the crypto arena?