Coinbase Derivatives to Introduce Solana and Hedera Futures Contracts

Coinbase Derivatives, a subsidiary of leading U.S-based cryptocurrency exchange Coinbase, has applied to list new futures contracts for Solana (SOL) and Hedera (HBAR). 

According to filings with the Commodity Futures Trading Commission (CFTC), these contracts could launch as early as February 18, 2025, pending regulatory approval.

Expanding Derivatives Offerings

Coinbase has been steadily increasing its presence in the crypto derivatives market. In June 2024, the exchange announced plans to introduce margined futures contracts for Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHIB), with a scheduled launch on July 15, 2024. 

The addition of Solana and Hedera to its futures offerings further demonstrates Coinbase’s commitment to providing traders with advanced risk management tools and expanded trading options.

Why Solana and Hedera?

Solana (SOL) has established itself as one of the top-performing blockchain networks, known for its high-speed transactions and low fees. Its growing ecosystem, particularly in decentralized finance (DeFi) and non-fungible tokens (NFTs), has made it a popular choice among investors.

Hedera (HBAR), on the other hand, is a lesser-known but promising blockchain platform that utilizes Hashgraph technology. With its focus on enterprise-grade applications and energy efficiency, Hedera has been gaining traction among institutional investors. 

The listing of futures contracts for HBAR could attract more mainstream interest and improve liquidity for the token.

Impact of  the Listing on the Crypto Market

Futures contracts allow traders to hedge against price volatility or speculate on future price movements. The introduction of SOL and HBAR futures on Coinbase could lead to increased institutional adoption and trading volume for both assets. As of January 31, 2025, Solana is trading at $234.62, while Hedera is priced at $0.31227.

With regulatory approval still pending, traders are eagerly awaiting the launch of these contracts. If approved, Coinbase Derivatives will further solidify its role as a key player in the growing cryptocurrency derivatives market.