Key Notes
- Binance Coin futures product is set to go live on the Coinbase exchange.
- The offering is slated to launch on April 3 on Coinbase International and Coinbase Advanced.
- Binance Coin price is now in the spotlight with likely breakout from boosted trading volumes
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American crypto trading giant Coinbase Global Inc (NASDAQ: COIN), has announced that it will introduce Binance Coin (BNB) perpetual futures trading next month. According to the update, the offering will be available on Coinbase International Exchange and Coinbase Advanced.
This listing has sparked discussions about its potential impact on BNB’s price amid growing market volatility.
Coinbase Expands Futures Trading With BNB Listing
Traders will be able to buy and sell BNB perpetual futures on its platform starting next week. The BNB-PERP market will launch on or after 9:30 AM UTC on April 3.
With this move, Coinbase is expanding its derivatives market and positioning itself as a competitor to leading exchanges like Binance, which already offers BNB futures.
The perpetual futures offering will allow traders to bet on price movements without holding the actual asset. This means they can profit from both rising and falling prices. Notably, trading futures also comes with risks, especially when leverage is involved.
The associated leverage allows traders to open larger positions with borrowed funds, amplifying potential gains and losses.
It is important to add that, for BNB holders, the listing on Coinbase will increase accessibility and could attract more investors to the project. Historically, major exchange listings have led to higher trading volumes and, in some cases, price increases.
However, the actual impact on BNB’s price remains uncertain as it depends on broader market conditions and investor sentiment.
Will the Listing Lead to a BNB Breakout or More Volatility?
Some traders believe that the increased exposure from a Coinbase listing could push BNB’s price higher.
More trading activity, especially from a major competitor, may lead to higher liquidity, creating upward price momentum. However, others warn that perpetual futures could bring heightened volatility, especially if traders take excessive leverage.
Changpeng Zhao, the founder of Binance, responded to the news by suggesting that BNB’s growth happens naturally, not because of exchange listings.
His comment led to discussions within the crypto community about how listings are decided and whether certain tokens receive special treatment.
At press time, CoinMarketCap data shows that BNB’s price is $630.39, up nearly 1% in the last 24 hours. Bitcoin’s price has stayed the same despite changes in the market, which shows that not all cryptocurrencies react similarly to recent news.
Notably, as April 3, the launch day, approaches, traders are paying attention to BNB. Some think the price will increase, while others worry it could change suddenly. The result will depend on how much people trade, market conditions, and other updates impacting the ecosystem.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
