Coinbase Global Launches LTC and XRP Perpetual Futures Contracts

Coinbase Global is now offering investors the possibility to trade LTC and XRP perpetual future contracts. This comes at a moment in which the CEO of Coinbase, Brian Armstrong, informed that the U.S. Securities and Exchange Commission (SEC) asked them to delist all virtual currencies with the exception of Bitcoin (BTC).

Coinbase Global Launches Perpetual Futures for LTC and XRP

Coinbase International Exchange is now offering traders perpetual futures for Litecoin and XRP, two of the largest cryptocurrencies in the market.

Thanks to the announcement, XRP and Litecoin are registering gains against Bitcoin and other virtual currencies. In the last 24 hours, Litecoin was able to grow by 1.1% (the largest price increase during that period of time among the top 40 digital currencies).

On X.con, Coinbase International Exchange informed:

“Coinbase International Exchange has added support for LTC-PERP and XRP-PERP perpetual future contracts. These markets are now available for trading on Coinbase International Exchange.”

@CoinbaseIntExch has added support for LTC-PERP and XRP-PERP perpetual future contracts.

These markets are now available for trading on Coinbase International Exchange. pic.twitter.com/Lw6KLnVQb6

— Coinbase International Exchange (@CoinbaseIntExch) August 1, 2023

It is worth taking into consideration that these perpetual contracts are only available for institutional traders.

In recent months, XRP has won a legal battle against the SEC, which was accusing the digital currency to be a security. Instead, Litecoin will experience a new halving event as soon as this month, reducing the new issuance of LTC by 50% to 6.25 LTC per block.

At the time of writing this article, Litecoin is being traded at $93 per coin, according to CoinGecko, and it’s the 12th largest virtual currency in the market. Instead, XRP is being traded at $0.69 per coin and it has a market capitalization of $36 billion.