Coinbase’s institutional client unit has stated the launch of perpetual futures contracts for Ordinals and Worldcoin on April 11. These perpetual futures contracts enable traders to speculate on an asset’s future price without an expiration date. However, the introduction of these contracts is subject to regulatory approval, which varies depending on the product being offered.
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The trend of ORD-PERP and WLD PERP
Institutional investors on Coinbase’s International and Advanced platforms will soon have access to BRC-20 token Ordinals (ORDI) and Worldcoin (WLD) perpetual futures. ORDI and WLD have recorded significant price action and trading volumes in recent months.
ORDI has seen a surge of 1,640% from a price of $5 on Nov. 1, 2023, to a high of $87 on March 5, while Worldcoin has also experienced rapid growth, becoming one of the preferred tokens for crypto investors seeking exposure to the AI industry according to coinGecko data.
ORDI is a separate BRC-20 token that is not officially associated with the Bitcoin Ordinals deployer or any of the Ordinals team. It only derives its name from the Ordinals protocol. WLD, on the other hand, is the native token of Worldcoin, a digital identity project that offers cryptocurrency in exchange for users’ biometric data for a digital ID.
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The announcement comes after Coinbase International Exchange added futures contracts for Wormhole’s native W (W) token, which was launched alongside an $850-million airdrop to early users of the cross-chain bridge. Coinbase also revealed its plans to list futures contracts for Litecoin as well as the memecoin Dogecoin. In this regard, Coinbase noted that it would initiate the “self-certification” method to launch the futures contracts without receiving any official approval from the Commodity Futures Trading Commission, as long as they adhered to the agency’s regulatory guidelines.