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Coinbase lists Solana (SOL) and Avalanche (AVAX) futures

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on Nov 13, 2023
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  • Coinbase will list SOL-PERP and AVAX-PERP trading on November 14 at 4pm UTC.
  • Solana price was down 5% in the last 24 hours as it traded near $56.90 on Monday morning.
  • Avalanche price was also down, losing 4% to $17.80 at the time of writing.

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Coinbase will add support for Solana (SOL) and Avalanche (AVAX) perpetual futures contracts, with SOL-PERP and AVAX-PERP set to open on November 14 at 4pm UTC.

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The global crypto exchange announced the listings on Monday, noting in a post on X that support for the two altcoins will be available on its Coinbase International Exchange and Coinbase Advanced platforms. Traders will have access to the SOL-PERP and AVAX-PERP markets on the indicated date “if liquidity conditions are met,” Coinbase noted.

Coinbase already offers BTC, ETH, XRP and LTC perpetual futures

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Support for Solana and Avalanche adds to the initial offering of Bitcoin (BTC), Ethereum (ETH), XRP (XRP) and Litecoin (LTC). The four top altcoins were the first to be added when Coinbase launched the perpetual futures contracts.

According to Coinbase, the selected crypto perpetual futures will only be available to non-US customers across select jurisdictions. Trading will include a 0% introductory fee for makers and 0.03% for takers.

The exchange noted at the time that demand for perpetual futures was growing amid further adoption of crypto as an asset class. And with the global cryptocurrency derivatives market accounting for approximately 75% of total crypto trading volume, its demand that’s unlikely to fade any time soon.

Coinbase opened access to regulated leveraged crypto futures for US traders earlier this month. The service is available via its Coinbase Financial Markets.

SOL and AVAX price

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Solana and Avalanche, which have been standout performers in the past few weeks, continued to trade at multi-month highs on Monday. The altcoins were however down in the past 24 hours as the broader crypto market posted slight losses.

SOL price was holding above $56 as weekly gains trimmed to about 41% amid an intraday downside of nearly 5%.

Meanwhile, AVAX price was above $17.80 and more than 38% up in the past week. While the token had pared recent gains by over 4% in the past 24 hours, it remains at its highest price level since April 2023.

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