In the past hour, Bitcoin experienced a noticeable price drop, falling from over $66,000 to $63,500. This decline affected altcoins, creating a generally negative market sentiment. Amid this negative atmosphere, Coinbase made an important announcement, revealing the initiation of futures trading for three altcoins.
Coinbase Listing
Coinbase is known for its market impact through its listings. The exchange’s significant trading volume can generate liquidity for listed cryptocurrencies. Recently, a post from Coinbase International Exchange’s X account announced the launch of futures trading for Toncoin (TON), Tellor (TRB), and Bittensor (TAO).
The announcement stated:
Coinbase International Exchange and Coinbase Advanced will add support for perpetual futures trading of Bittensor, Toncoin, and Tellor. The TAO-PERP, TON-PERP, and TRB-PERP markets will open on July 25, 2024, at 9:30 UTC or later. $TAO $TON $TRB
Current Prices of TAO, TRB, and TON
As of the time of writing, Toncoin (TON), ranked 8th on CoinMarketCap with a market cap of $17.95 billion, did not see a price increase following the news. The price dropped 1.42% in 24 hours, falling to $7.15. Although such news typically boosts prices, Bitcoin’s decline hindered this effect.
Next, Bittensor (TAO), a prominent project in the artificial intelligence sector, saw its price rise by 2.79% in the last 24 hours, reaching $323. This increase demonstrates the altcoin‘s strong performance against Bitcoin.
Lastly, Tellor (TRB) continues to recover from past setbacks, although it experienced a 1.32% drop in the last 24 hours, trading at $79.42. TRB’s market cap is $206 million, with a 24-hour trading volume of $46.8 million.
