Saga, Threshold (T), Render price surge as Coinbase launches perpetual futures

Coinbase has announced the introduction of perpetual futures contracts for Render (RENDER), Saga (SAGA), and Threshold (T). Set to begin trading on August 29, 2024, these contracts are already creating waves, boosting investor confidence and driving positive price movements for these tokens.

The launch of the perpetual contracts highlights Coinbase’s expanding role in providing innovative financial instruments for the digital asset space.

Coinbase expanding its financial offerings

Coinbase’s decision to launch perpetual futures for these tokens is a strategic move aimed at enhancing its financial offerings and attracting a broader range of investors.

Perpetual futures contracts, unlike traditional futures, are not time-limited, allowing traders to leverage positions without the constraints of expiration dates. This flexibility is expected to drive increased trading activity and liquidity for Render, Saga, and Threshold.

In addition to the new futures contracts, Coinbase is introducing a no-fee EURC conversion service starting August 28, 2024. This move aligns with the European Union’s MiCA regulations and facilitates easier transactions within the EU.

Coinbase is also adding support for the Polygon Ecosystem Token (POL), further expanding its ecosystem and integration capabilities.

Boost to Render (RENDER), Saga (SAGA), and Threshold (T) prices

Coinbase’s launch of perpetual futures for Render, Saga, and Threshold has significantly impacted their market performance, highlighting the growing interest and confidence in these cryptocurrencies.

As trading begins, these tokens are poised for continued volatility and potential growth, driven by increased trading opportunities and investor engagement.

Render (RENDER), a leading decentralized GPU-based rendering solution, saw its price jump to a high of $5.06 shortly after the announcement.

At press time, RENDER had slightly pulled back to trade at $4.98, reflecting an 8% rise over the past 24 hours and a 10% increase over the week. Besides the price surge, Render’s 24-hour trading volume has soared to $64.65 million, marking an impressive increase of 137%.

Saga (SAGA), a Layer 1 protocol that offers infinite horizontal scalability through its Chainlets, also experienced a positive trend. The token’s price rose by 3% to $1.27 despite recent bearish trends, driven by increased investor interest following the Coinbase announcement. The trading volume also went up by 41% to $34.43 million.

Threshold (T), a utility and governance token for the Threshold Network, also saw its price rise by about 2% to around $0.02361. The market capitalization of Threshold increased to $229.50 million, with its trading volume slightly falling by 3% to $11.10 million.

The surge in price and market cap indicates a strong bullish sentiment among traders and investors.

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