Coinbase International Exchange has announced its plans to list Worldcoin and Ordinals perpetual futures products on April 11. These products will be available for trading under the ticker symbols ORDI-PERP and WLD-PERP on both Coinbase International Exchange and Coinbase Advanced. Worldcoin is a project founded in 2019 with the goal of creating a privacy-preserving human identity and financial network. The native token, WLD, is a utility token with governance properties, allowing users to have a say in the future of the protocol. On the other hand, Ordinals is a cryptocurrency that operates on the Bitcoin protocol and allows the presentation of information such as text and images as NFTs and tokens.
Perpetual futures, also known as perpetual swaps or perpetual contracts, are derivative financial instruments traded on cryptocurrency exchanges. Unlike traditional futures contracts, perpetual futures do not have an expiration date, allowing traders to hold their positions indefinitely as long as they meet margin requirements and other exchange rules. These contracts mirror the price of the underlying asset, settling periodically to the spot price of the asset. To prevent the perpetual futures price from straying too far from the spot price, funding payments are exchanged between long and short positions.
Coinbase International Exchange provides institutional clients access to over 30 perpetual futures and spot markets. By listing the perpetual futures products of Worldcoin and Ordinals, the exchange is expanding its offerings to cater to a wider range of products and services for its clients. With the addition of these new products, traders can utilize perpetual futures for various purposes such as speculation, hedging, and arbitrage. However, trading perpetual futures carries significant risks including volatility and the potential for liquidation if margin requirements are not maintained.
The listing of Worldcoin and Ordinals perpetual futures on Coinbase International Exchange and Coinbase Advanced is set to take place on or after 9:30am UTC on April 11, 2024. The availability of these products offers traders the opportunity to engage in trading activities based on the price movements of these assets, providing enhanced liquidity and trading opportunities on the exchange. Both institutional and retail traders can benefit from the addition of these perpetual futures, which allow for greater flexibility and trading options in the cryptocurrency markets.
Overall, the inclusion of Worldcoin and Ordinals perpetual futures on Coinbase International Exchange is a significant development in the cryptocurrency market, as it expands the range of products available to traders. The introduction of these products provides additional opportunities for traders to engage in trading activities based on the price movements of these assets. As the cryptocurrency market continues to evolve, the availability of perpetual futures products like Worldcoin and Ordinals on popular exchanges like Coinbase International Exchange helps enhance the overall trading experience for both institutional and retail traders.
