Coinbase International Exchange is set to introduce BRC-20 token Ordinals (ORDI) and Worldcoin (WLD) perpetual futures, catering specifically to its institutional clientele. The exchange announced in a post on April 5 that these products will be listed on April 11, marking their availability to institutional investors on both Coinbase International and Coinbase Advanced platforms. Notably, both ORDI and WLD have witnessed notable fluctuations in price action and trading volume in recent months.
The surge in demand for Ordinals-related assets in late 2023 propelled ORDI to a staggering 1,640% increase, soaring from $5 on November 1, 2023, to a peak of $87 on March 5. It's important to clarify that ORDI tokens are distinct BRC-20 tokens not directly affiliated with the Bitcoin Ordinals deployer or any Ordinals team, deriving their name solely from the Ordinals protocol.
On the other hand, WorldCoin has swiftly emerged as a preferred token among cryptocurrency investors seeking exposure to the AI industry. Its price surged from $2.20 on February 7 to $11.70 on March 10, reflecting the growing interest in this sector. The addition of perpetual futures contracts for ORDI and WLD broadens the offering on Coinbase's institutional-focused exchange arm, providing traders with derivatives contracts that lack an expiration date, commonly known as perpetual swaps or perpetual contracts.
Coinbase International Exchange has been expanding its futures contract offerings, recently including contracts for Wormhole’s native W (W) token and planning to launch futures contracts for Litecoin and Dogecoin. Despite pending official approval from the Commodity Futures Trading Commission, Coinbase intends to employ a “self-certification” approach for these launches, ensuring compliance with regulatory guidelines while expanding its product portfolio to cater to evolving market demands.
