The cryptocurrency market is trying to heal its wounds today after yesterday’s bloodbath. While the leading crypto Bitcoin rose to the level of 59 thousand dollars, altcoins also generally increased. In this positive atmosphere, the good news of listing 3 altcoins came from Coinbase International, the futures arm of the leading crypto exchange Coinbase. The exchange announced that it will launch perpetual contract trading for AR, HBAR, and THETA. One of the tokens reacted positively to the announcement.
Coinbase adds AR, HBAR, and THETA to its futures list!
cryptokoin.comAs you follow from , the market managed to enter the green zone today. List news continues to come as Bitcoin and altcoins try to compensate for their losses. In a recent development, Coinbase International announced that it will launch AR, HBAR and THETA perpetual contract trading on or after 12:30 a.m. ET on May 9. In this context, the exchange made the following statement:
CoinbaseIntExch will add support for Arweave, Hedera, and Theta perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our AR-PERP, HBAR-PERP and THETA-PERP markets will begin on or after 12:30 CET on May 9, 2024.
How did altcoin prices react?
AR price, one of the related tokens, reacted positively to the development. Following the Coinbase announcement, the AR price rose above $33. Even though the token later loses altitude, it continues to fly high. At the time of writing, AR was trading at $32.60, up over 21% on a daily basis.
However, the Coinbase announcement did not significantly affect other tokens. While HBAR price remained unchanged, THETA saw a slight increase.
JPMorgan: Retail investors led the market sell-off
Wall Street giant JPMorgan (JPM) said it maintains its cautious stance on cryptocurrency markets in the near term due to the lack of positive catalysts and the disappearance of its individual impulse. The bank noted that retail investors sold both crypto and equity assets in April. He also noted outflows in spot Bitcoin exchange-traded funds (ETFs). The three hurdles the bank had already identified remain in place. These are: high positioning, high Bitcoin prices relative to gold and the estimated Bitcoin production cost, and stagnant crypto venture capital (VC) funding.
In the report, analysts stated that cryptocurrency markets have made significant profits in recent weeks. They also noted that individual investors played a larger role in the selloff than institutional investors. Bitcoin fell 16% in April, marking the biggest monthly decline since June 2022.
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