Coinbase to add futures for Polkadot, Internet Computer, NEAR

Coinbase International Exchange will enhance its offerings by supporting Polkadot, Internet Computer, and NEAR Protocol futures.

Starting on or after 10 a.m. UTC on Feb. 22, the DOT-PERP, ICP-PERP, and NEAR-PERP markets will become accessible, diversifying trading options.

This move comes amidst a notable increase in ether derivatives trading activity, with CoinGlass reporting over $10.1 billion in cumulative open interest for ETH futures.

Similarly, Derebit observed a record high in ether perpetual futures contracts open interest, surpassing $690 million.

Perpetual contracts, known for their absence of an expiration date, enable traders to sustain positions indefinitely, offering a dynamic trading environment.

The surge in open interest and the uptick in the funding rate for ether perpetual futures from 0.00045% to 0.035% since the beginning of February reflects growing trader optimism and a bullish market outlook.