Coinbase has made a significant move in the crypto trading space by introducing leveraged derivatives on its Base App. This new feature, announced on Wednesday, is set to enhance the trading experience for eligible users by offering them the ability to engage in perpetual futures trading with substantial leverage. According to the results published in the material, users can now access up to 50x leverage on their trades.
Integration of Hyperliquid into the Base App
The integration of Hyperliquid into the Base App allows users to trade perpetual futures with leverage of up to 50x. This feature opens up access to over 290 perpetual futures markets, including popular cryptocurrencies like Bitcoin and Ethereum, as well as markets linked to stocks and commodities.
Insights from Coinbase's Head of Engineering
Chintan Turakhia, Coinbase's Head of Engineering, highlighted that perpetual futures have been the most requested feature among power users. This trading option enables users to speculate on price movements of assets without the need to own them, thus providing greater flexibility in trading strategies.
Commitment to User Security and Autonomy
With this launch, Coinbase aims to equip traders with advanced tools while ensuring that users maintain self-custody of their assets, reinforcing the platform's commitment to user security and autonomy.
In a notable development for US traders, Kraken has launched CFTC-regulated perpetual futures, enhancing the trading landscape significantly. This move contrasts with Coinbase's recent introduction of leveraged derivatives on its Base App. For more details, see Kraken's launch.
