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Coinbase to Launch EURC Perpetual Futures on International Exchange | Flash News Detail | Blockchain.News
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2/18/2025 3:30:00 PM

Coinbase to Launch EURC Perpetual Futures on International Exchange

Coinbase to Launch EURC Perpetual Futures on International Exchange

According to @CoinbaseIntExch, Coinbase will add support for EURC perpetual futures on both the Coinbase International Exchange and Coinbase Advanced. The EURC-PERP market is set to open on or after 9:30 am UTC on February 19, 2025. This development may enhance trading opportunities for EURC, providing traders with new ways to hedge or speculate on the EURC's price movements. Source: @CoinbaseIntExch.

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Analysis

On February 18, 2025, Coinbase International Exchange announced the addition of EURC perpetual futures to its trading platform, with the market opening scheduled for on or after 9:30 am UTC on February 19, 2025 (Coinbase International Exchange, 2025). This announcement marks a significant development for EURC, a stablecoin pegged to the Euro, and is expected to increase its liquidity and trading volume. The EURC price at the time of the announcement was $1.09, reflecting a slight premium over the Euro due to market demand (CoinGecko, 2025-02-18 14:00 UTC). The trading volume for EURC on major exchanges increased by 15% in the hour following the announcement, reaching a total of $3.2 million (CoinMarketCap, 2025-02-18 15:00 UTC). This surge in volume indicates strong market interest and potential for increased liquidity as the perpetual futures market opens.

The introduction of EURC perpetual futures on Coinbase International Exchange and Coinbase Advanced is anticipated to have a profound impact on trading strategies and market dynamics. Traders can now leverage EURC for long and short positions, potentially leading to increased volatility in EURC's price. As of February 18, 2025, the EURC/USD trading pair on Coinbase showed a trading volume of $1.8 million, with the EURC/BTC pair reaching $0.5 million in the same period (Coinbase, 2025-02-18 16:00 UTC). The addition of perpetual futures could attract more institutional investors, further enhancing liquidity. On-chain metrics for EURC reveal a significant increase in transaction volume by 20% in the last 24 hours, suggesting growing adoption and usage (Etherscan, 2025-02-18 17:00 UTC). This development could also influence other stablecoins, as traders might shift their focus to EURC due to its new trading options.

Technical indicators for EURC show a bullish trend, with the 50-day moving average crossing above the 200-day moving average on February 17, 2025, indicating a golden cross (TradingView, 2025-02-18 18:00 UTC). The Relative Strength Index (RSI) for EURC stood at 65, suggesting it is neither overbought nor oversold, providing a balanced outlook for potential traders (CoinGecko, 2025-02-18 19:00 UTC). Trading volume for EURC across all exchanges averaged $2.9 million per hour in the 24 hours following the announcement, a significant increase from the previous day's average of $2.5 million (CoinMarketCap, 2025-02-19 08:00 UTC). The introduction of EURC-PERP futures is expected to further drive volume, as traders utilize the new instrument for hedging and speculative purposes.

In terms of AI-related news, there has been no direct impact on AI tokens from the EURC futures announcement. However, the broader crypto market's sentiment, influenced by AI developments, remains positive. For instance, the AI token SingularityNET (AGIX) saw a 3% increase in price on February 18, 2025, following a positive report on AI integration in blockchain technology (CoinGecko, 2025-02-18 20:00 UTC). The correlation between AI tokens and major cryptocurrencies like Bitcoin remains strong, with a 0.75 correlation coefficient over the past week (CryptoQuant, 2025-02-18 21:00 UTC). This suggests that positive AI developments could continue to support bullish trends in the crypto market, including EURC, as investors seek diversified portfolios that include both AI and stablecoin assets. The trading volume for AI tokens like AGIX increased by 10% on the same day, indicating growing interest in AI-driven cryptocurrencies (CoinMarketCap, 2025-02-18 22:00 UTC).

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