Coinbase Launches Perpetual Futures for GMT OMNI SNX on August 28

Coinbase International has announced the upcoming launch of perpetual futures for three prominent cryptocurrencies: GMT, OMNI, and SNX, set to go live at 12:00 a.m. UTC on August 28 [1]. The move is expected to broaden the platform’s derivatives offering and provide traders with more advanced tools for risk management and speculative trading. Perpetual futures are a type of futures contract that does not have an expiration date, enabling traders to hold positions indefinitely as long as sufficient margin is maintained [1]. These instruments mirror spot prices through a funding rate mechanism, which helps align perpetual futures prices with the underlying asset.

The inclusion of GMT, OMNI, and SNX reflects Coinbase’s effort to diversify its product suite and cater to a wider range of market participants. GMT is the governance token for the STEPN Web3 lifestyle application, where users can earn tokens by engaging in physical activity using NFT sneakers [1]. OMNI is part of the Omni Network, an interoperability protocol designed to connect Ethereum rollups and enhance cross-chain functionality [1]. SNX, on the other hand, is the token of Synthetix, a decentralized protocol that allows users to mint and trade synthetic assets linked to traditional and digital assets [1]. These tokens represent various facets of the crypto ecosystem, including GameFi, DeFi, and infrastructure.

For traders, the introduction of perpetual futures offers both opportunities and challenges. The use of leverage allows for amplified gains, but it also increases the risk of rapid liquidations if market conditions shift against a position [1]. Additionally, the 24/7 nature of perpetual futures trading means that market exposure is continuous, which can be advantageous in a fast-moving asset class like crypto. However, traders must understand the funding rate mechanism and how it affects the cost of holding a position. This is especially important for long-term strategies.

While the move signals Coinbase’s continued expansion into the derivatives market, it also reflects broader industry trends toward product innovation and increased accessibility. The launch could attract both institutional and retail traders who are looking for more sophisticated tools. However, it is important to note that these instruments are typically available through Coinbase International and are intended for non-U.S. traders. Availability may vary by jurisdiction [1].

Traders are advised to approach perpetual futures with a clear strategy that includes defined entry and exit points, stop-loss orders, and profit targets. A thorough understanding of the underlying projects and their market dynamics is also crucial for making informed decisions. As the market evolves, platforms like Coinbase are playing a key role in shaping the future of crypto trading by offering tools that cater to both novice and experienced participants.

Source: [1] Coinbase Perpetual Futures: Exciting New Listings for GMT, OMNI, SNX (https://coinmarketcap.com/community/articles/68ade0daeb353146039796b0/)