Coinbase Expands Support to 4 Cryptocurrencies in Perpetual Contracts, Delists Several Tokens

New additions in perpetual contracts as Coinbase streamlines market health.

Cryptocurrency exchange Coinbase has broadened its support for four cryptocurrencies - Cardano (ADA), Dogecoin (DOGE), Chainlink (LINK), and Stellar (XLM) - by incorporating them into perpetual future contracts. These specific pairs, ADA-PERP, LINK-PERP, DOGE-PERP, and XLM-PERP, will be accessible to customers starting November 30.

Perpetual future contracts allow users to speculate on the future value of an asset without any set expiration date, providing the flexibility of indefinite holding. Despite Coinbase's announcement, there was limited impact on the volatility of the mentioned assets, as some experienced marginal declines in daily charts. XLM saw a decline of 5%, while LINK dropped by almost 6%, according to data from CoinGecko.

In addition to expanding its token offerings, Coinbase has undertaken a process of removing certain tokens over recent months. In October, the exchange delisted 80 trading pairs across Coinbase Exchange, Advanced Trade, and Coinbase Prime with the aim of enhancing overall market health and consolidating liquidity. Among those delisted were AGLD-USDT, BNT-BTC, SUSHI-BTC, ZEN-BTC, among others. The Coinbase Advanced Trade users in eligible regions, however, can continue trading these coins using USDC balances.

Previously, Coinbase suspended trading activities involving BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX).