Coinbase Derivatives recently launched a product that offers a more diverse and inclusive market for traders.
Last week, the exchange launched futures contracts for Silver (SLR) and Stellar (XLM).
Silver and Stellar: New Trading Options on Coinbase
What does this launch mean for traders? First, it means anyone can now access more options regardless of their experience level. Thankfully, Coinbase claims these are set in retail-friendly sizes—50 troy ounces for Silver and 5,000 tokens for Stellar. This means there’s room for broader market participation.
Coinbase has long expressed its ambitions to blend regular assets like silver with digital assets. Why silver? Like gold, silver is a good hedge. Silver launches on the Coinbase Derivatives platform with its reputation as a long-standing investment option.
Excited to announce that Coinbase Derivatives is expanding our suite of CFTC-regulated futures. Get ready for silver and Stellar contracts launching November 11, 2024.
Read more ↓https://t.co/ifOp76cbAh pic.twitter.com/NxtpvWTunH
— Coinbase Institutional
(@CoinbaseInsto) October 31, 2024
Similarly, Stellar has a reputation for being a cheap and reliable alternative for international transactions. By merging both types of assets in its offerings, Coinbase hopes to attract a diverse range of traders interested in managing risk while exploring new investment strategies.
Coinbase says that the primary goal with these futures is to support price discovery and enhance risk management options for traders. Offering a mix of commodities and cryptocurrencies in futures should likely create a well-rounded trading environment, giving users tools to hedge against potential market swings.
Asset listings on Coinbase are free – drop us a note through our Asset Hub and we’ll see if we can helphttps://t.co/Weoa8MhLeq
And yes, DEXes are also a great option (which we support in our products). https://t.co/cjp0Avu4uC
— Brian Armstrong (@brian_armstrong) November 2, 2024
Controversy Over Coinbase’s Token Listing Fees
This new product launch from Coinbase comes amid controversy surrounding its fees for token listings. Justin Sun, the founder of Tron, recently claimed on social media that Coinbase asked for $330 million in total fees to list Tron (TRX).
While there is no proof of this, Sun’s claims sparked conversations about Coinbase’s claims of offering free listings. Sun, in a tweet, claimed the crypto exchange demanded a 500 million TRX deposit, worth around $80 million, along with an additional $250 million in Bitcoin to be held in Coinbase custody.
Binance charged us $0.
Coinbase has asked us for; $300m, $50m, $30m, and more recently $60m.
Lots of respect. But this is simply not true.
— Andre Cronje (@AndreCronjeTech) November 3, 2024
Others like Fantom’s Andre Cronje raised similar concerns. Cronje claimed that Coinbase proposed a range of listing fees for Fantom, from $30 million to $300 million at various points.
These claims could lead to a massive exodus from centralized platforms like Binance and Coinbase to decentralized platforms. Interestingly, decentralized platforms have recorded higher volumes in recent months, hinting at what could be a trend.
Disclaimer
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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