Coinbase has announced the listing of Solana-based meme coins PENGU and Popcat for spot trading, expanding its offerings for retail traders. The move comes alongside the exchange’s plan to introduce perpetual futures contracts for PENGU, Popcat, and Helium (HNT) on its international trading platforms.
According to Coinbase International Exchange, these futures contracts: PENGU-PERP, POPCAT-PERP, and HNT-PERP will be available on Coinbase International Exchange and Coinbase Advanced starting February 13, 2025, at or after 9:30 am UTC. This expansion aligns with the company’s broader strategy to enhance its derivatives market.
Perpetual contracts allow traders to gain leveraged exposure to assets without an expiry date, offering increased flexibility for risk management and speculation. The introduction of these futures markets is expected to boost liquidity and trading volume for the three tokens, potentially attracting more institutional and retail participants. Historically, futures markets have contributed to higher engagement in digital asset trading by offering additional trading instruments.
BREAKING: @coinbase TO LIST SOLANA MEMECOINS $PENGU (@pudgypenguins) AND $POPCAT (@POPCATSOLANA) FOR SPOT TRADING pic.twitter.com/7QGwsqlXfb
— DEGEN NEWS (@DegenerateNews) February 7, 2025
Following the announcement, the market reacted with increased activity. Pudgy Penguins (PENGU) saw a price surge from an intraday low of $0.011 to highs approaching $0.012. Popcat experienced volatility, moving from $0.210 to $0.230 before retracing. Helium (HNT) recorded an 4.77% increase, reaching $3.29. It also saw a 96.51% surge in trading volume, reaching $14.57 million. The price fluctuations reflect heightened anticipation ahead of the futures launch.
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