Coinbase Announces WIF Memecoin Perpetual Futures Trading

Coinbase, a top cryptocurrency exchange, announced plans to launch perpetual futures trading for the Solana-based memecoin WIF (SOL) on April 25th. The announcement follows the postponement of a similar offering for the Pepe (PEPE) memecoin. The news resulted in a surge in WIF's price, which rose over 20% within a day, amid market recovery efforts.

Coinbase Announces Perpetual Futures Trading for WIF Memecoin

In a significant development within the cryptocurrency realm, Coinbase, a leading cryptocurrency exchange, has announced that it will facilitate perpetual futures trading for the Solana-based memecoin, WIF (SOL).

Launch Details

In an official statement released on April 18, the company unveiled that Coinbase International Exchange (CIE) and Coinbase Advanced will initiate trading in perpetual cryptocurrency futures for WIF (SOL) on April 25.

For clients residing outside the United States, Coinbase International Exchange will enable perpetual futures trading for the Solana-based meme cryptocurrency on April 25 at 9:30 am UTC.

Market Reaction

Upon the news, the price of the WIF memecoin experienced a notable surge, appreciating by over 20% within the past 24 hours. At the time of publication, the value of Dogwifhat stood at US$2.94, representing a 19.8% increase. This growth occurred amidst the market's wider recovery from recent lows. The 24-hour trading volume for the WIF memecoin reached $837,920,507.

Postponed Launch for PEPE Futures

It is noteworthy that on April 17, Coinbase International disclosed the postponement of the perpetual futures offering for the Pepe (PEPE) memecoin. The exchange cited technical reasons for the delay, stating that an updated schedule would be communicated soon.

Conclusion

Coinbase's decision to offer perpetual futures trading for the WIF memecoin signals a growing interest in memecoins within the cryptocurrency market. The significant increase in WIF's price upon the announcement highlights the potential for these assets to generate substantial investor interest. It remains to be seen how the market will respond to the launch of perpetual futures trading for WIF and other memecoins in the future.