Record-Breaking Trading Volume in July
Coinbase International had a successful month ending in July, with the volume of the perpetual futures trading set monthly going over $38 billion, the data released in the late afternoon on Monday stated. This huge figure is the most hassle-free trade volume ever since the first statistics have come out in 2024.
Ether Futures Outperform Bitcoin
The 24-hour trading volume for Ether perpetual futures was reported at $1.5 billion, with Bitcoin’s $1.3 billion in second place. Moreover, the total number of contracts for Ethereum future venire that remained due were at $10.9 million and $90 i.e. for Bitcoin future venire were at $20.9 million.
Market Conditions Amidst Crypto Downturn
The numbers were given by Coinbases who reported the decline of significant cryptocurrency markets in which Bitcoin and Ether crossed double-digit price falls today. Despite the negative momentum of the broader market, activities in the perpetual futures segment remained strong and stable.
Dominance of Perpetual Futures
well, in the presentation of all except for “crypto”, which are an abbreviation for “cryptocurrency”, through video conferencing or similar, utilized to support their latest project. Thus, these assets offer the flexibility of being transacted on the blockchain for multiple forms of trading stand the highest. More important than all, they are hardly expensive and the spot rate funding method of these derivatives keeps them tight to the cash market reference just like other futures.
Regulatory Approval in Bermuda
Bermuda Authority Greenlights Coinbase
In 2023, the Bermuda Monetary Authority (BMA) became the first regulatory body in the world to approve the exchange, paving the way for the exchange’s substitute of perpetual futures as a more customer-friendly alternative to the US right after approval.
The Coinbase International crypto platform provided institutional customers with derivative products by the time it was launched (in May 2023). Following the new regulatory permission secured in September, the crypto platform was able to provide the regulated perpetual futures contracts to eligible users on the Coinbase Advanced platform.
Management and Regulation
The exchange mentioned that perpetual future accounts are handled by Coinbase Bermuda as well as are under the supervision of BMA.
According to the exchange’s announcement, about 75% of the crypto trading’s trading volume comes from the derivatives market while the rest of it is mainly retail. Plus, the exchange made it clear that the approval allowed retail traders to participate in the crypto derivatives market that earlier was a field mainly for institutional players.
Early Opportunities in Unreleased Tokens
In June, Coinbase bigged up the pre-launch markets of its International Exchange and Coinbase Advanced platforms.
These pre-launch markets will lead to the trading of perpetual futures of tokens yet to be released for qualified retail users. The buyers, hence, will be first to participate in the process of negotiating the initial project price through their strategic use of its development.
