Kaspa (KAS) Surges 10% After Coinbase Listing—Will the Rally Continue?

Kaspa (KAS) is on the move, up 10% today after Coinbase listing. The exchange has officially announced that the KAS-PERP market is live, adding more

Cryptocurrency exchange Coinbase has announced the listing of Kaspa (KAS) and SPX6900 (SPX) on its International Exchange and Advanced Trading platforms.

This development comes as part of Coinbase’s strategy to expand its derivatives market, which has historically led to bullish price action for newly listed assets.

Coinbase Adds KAS & SPX6900

On Monday, Coinbase quietly announced the listing of KAS-PERP on their exchange. A brief X (formerly Twitter) post stated that the market is now live. Limit, market, stop and stop-limit orders are available for KAS-PERP on Coinbase Advanced Trade.

Coinbase Pro users will have access to the KAS-PERP market with leverage of up to 20x. Notably, the perp markets are only available to users outside the United States.

Coinbase also announced the listing of SPX6900 (SPX) on Coinbase Advanced Trade. The exchange now offers SPX-PERP for trading. Investors can gain exposure to the S&P 500 index through SPX-PERP on Coinbase.

Coinbase Pro users can trade SPX-PERP with leverage of up to 10x. As with other perp markets, SPX-PERP is only available to traders outside the U.S.

KAS & SPX Price Performance and Market Impact

The immediate market reaction to Coinbase’s listing was positive for both KAS and SPX.

Kaspa (KAS) Price Trends

KAS spiked 10% to trade at $0.1066 at the time of writing.

Intraday highs and lows stood at $0.1091 and $0.1043, respectively.

Futures open interest (OI) for Kaspa increased 2%, reaching $102.40 million, per Coinglass data.

SPX6900 (SPX) Price Trends

SPX saw a sharper surge, climbing 16% to reach $0.7330.

It hit an intraday peak of $0.7450 after bouncing from a low of $0.6102.

Futures OI for SPX surged 24%, hitting $19 million, signaling heightened investor interest.

As Coinbase continues to expand its derivatives offerings, the growing OI and market exposure are indicating that traders are positioning themselves for further gains, especially as both KAS and SPX are set to receive increased liquidity and trading volume.