Coinbase International has reported a notable increase in trading volumes driven by perpetual contracts and strategic initiatives.
Trading Volume Growth
Coinbase International's total trading volume reached $119 billion last week, with an average of nearly $20 billion per day. This marks a significant 124% increase in total weekly volume and a 164% increase in average daily volume compared to the previous week.
Popular Trading Pairs
The exchange announced the top five perpetual contract pairs by average daily trading volume for 2024: SUI-PERP, NEAR-PERP, 1000PEPE-PERP, 1000SATS-PERP, and WIF-PERP.
Coinbase International's Strategic Initiatives
Several strategic initiatives undertaken by the company have contributed to the growth. These include: European expansion aligning with MiCA regulations, increasing its presence in Australia through events like the Melbourne Marathon sponsorship, doubling maximum leverage from 10x to 20x, and launching spot markets in late 2023.
Through successful initiatives, Coinbase International has significantly increased trading volumes, demonstrating substantial growth in platform activity.
