American-based cryptocurrency exchange Coinbase has announced that it is increasing the leverage ratio for continuous futures trading on Coinbase Exchange, Coinbase International, and Coinbase Pro. According to the announcement, users will be able to use up to 10x leverage for all listed contracts, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE).
According to a statement made by Coinbase on its official Twitter account, 10x leverage will be offered on all listed continuous futures contracts. Users will now be able to take advantage of maximum leverage for all cryptocurrencies listed on Coinbase International and Coinbase Pro.
Currently, Coinbase International offers continuous futures trading for Bitcoin, Ethereum (ETH), XRP (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), Avalanche (AVAX), Litecoin (LTC), Chainlink (LINK), and Stellar (XLM).
The introduction of 10x leverage by Coinbase could further drive up the prices of Bitcoin and altcoins. Indeed, significant price increases have been observed particularly in AVAX, DOGE, SOL, and ADA following the leverage announcement by Coinbase International. Analysts are predicting stronger rallies for altcoins during this period while expecting a pause in the price increase of BTC.
Previously, Coinbase offered leverage of up to 10x based on initial margin in specific cryptocurrencies, but the cryptocurrency exchange appears eager to take advantage of opportunities arising from the ongoing rally. According to the latest data, the largest cryptocurrency Bitcoin is trading at $43,785 with a 5.23% increase in the last 24 hours. The lowest and highest price levels for the crypto king in the last 24 hours were $41,450 and $44,408, respectively. Additionally, Bitcoin’s trading volume has increased by 10% in the last 24 hours and continues to attract investor interest.