Coinbase International Exchange has announced plans to introduce support for Catizen (CATI) perpetual futures on both its Coinbase International Exchange and Coinbase Advanced platforms. The listing announcement offered an insane boost to the CATI price, which was down over 4% prior to the update.
Coinbase International to List Catizen Perpetual Futures
According to the crypto exchange, the new CATI-PERP market will open for trading on or after 9:30 a.m. UTC on Thursday, September 26, 2024. This move is part of Coinbase’s ongoing strategy to expand its derivatives offerings, catering to the growing demand for futures trading in the crypto market.
Perpetual futures are a popular derivative product in the crypto space, allowing traders to speculate on the price of an asset without owning it. Unlike traditional futures contracts, perpetual contracts do not have an expiration date, providing more flexibility to traders.
@CoinbaseIntExch will add support for Catizen perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our CATI-PERP market will begin on or after 9:30am UTC 26 SEP 2024. $CATI pic.twitter.com/7y7bY8VHQ9
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) September 23, 2024
Coinbase’s addition of Catizen perpetual futures is expected to attract more institutional and retail traders looking to leverage the volatile price movements of the CATI token. Moreover, the newly-launched TON ecosystem meme coin has also attracted Binance’s attention.
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Meanwhile, Binance Futures also made headlines today by launching the “Futures Trading Carnival,” offering participants the opportunity to win a share of its Catizen rewards. Binance stated, “The Futures Trading Carnival is now live! Don’t miss your chance to win a share of 50,000 CATI in rewards.”
To enter the competition, participants need to complete three steps: make their first futures deposit, trade futures, and complete specified social tasks. This promotion aims to engage the Binance community and boost trading volume for CATI futures on its platform.
CATI Price Rallies But There’s A Catch
Both Coinbase and Binance’s initiatives highlight the increasing interest in Catizen, a token launched just last week. After the Coinbase announcement, the CATI price rallied over 7%, attaining a high of $0.8368.
However, the gains were extremely short-lived. Within just minutes, the the crypto slumped to the $0.80 level, underscoring the volatility that meme coins are known for. At press time, the CATI price was down by 2.63% to $0.802 on Monday, September 23.
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