Coinbase to launch Wormhole (W) futures amid price surge

Coinbase International Exchange is set to introduce Wormhole (W) perpetual futures trading, riding the wave of W's remarkable price surge.

The move increases trading opportunities for users on both Coinbase International Exchange and Coinbase Advanced.

Wormhole futures trading on Coinbase

The Wormhole (W) perpetual futures trading on Coinbase International Exchange is scheduled to go live at 9:30 a.m. UTC on April 4.

The initiative aims to cater to the growing demand for W trading amid its surge in price. However, access to the perp futures listing will be limited to regions where Wormhole trading is supported, as per Coinbase's statement.

Besides Coinbase, other major cryptocurrency exchanges including Binance, OKX, Bybit, Bitget, Gate.io, and Backpack have disclosed their intentions to list the W token for trading.

This widespread support underscores the industry's recognition of Wormhole's innovative cross-chain protocol and the potential of its native token, W. Additionally, Wormhole has engaged its community through an extensive airdrop program, distributing over 617.3 million W tokens to eligible wallets across various chains, including Solana and Ethereum.

Wormhole (W) price

The swift adoption of the W token by major exchanges has resulted in a notable price surge within a short trading period.

With widespread exchange support and community engagement initiatives, Wormhole could be poised for significant strides in the DeFi sector, with its native token, W, at the forefront of this evolution.

W token opened at $1.66 on Solana-based decentralized exchange OpenBook with a market capitalization of $2.98 billion and a fully diluted value figure of $16.5 billion.

Although the price of W has dropped to around $1.41 at press time, there is a general bullish sentiment prevailing in the market towards Wormhole's cross-chain protocol which underscores W's potential impact on the DeFi sector.