Brian Armstrong, CEO of Coinbase Global Inc. (NASDAQ:COIN), cheered the addition of XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL) to its perpetual futures offering on Tuesday.
XRP, SOL Perpetual-Like Contracts With Up To 5x Leverage
Armstrong called the addition a “great progress” that will enable U.S. traders to bet on SOL and XRP perpetual-style futures, following the launch of a similar offering for Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) last month.
Unlike traditional futures, which have a monthly or quarterly expiration date, Coinbase’s perpetuals set expiration dates of 5 years. Moreover, the contracts are open for trading 24/7.
While BTC and ETH perpetuals give up to 10x leverage, XRP and SOL contracts provide up to 5x leverage.