Coinbase, has announced that the new ORDI-PERP and WLD-PERP markets will open on or after 9:30 a.m. UTC on April 11, 2024 as the exchange adds support for perpetual futures contracts for Ordinals (ORDI) and Worldcoin (WLD) on its Coinbase International Exchange and Coinbase Advanced platforms.
The Ordinals Frenzy and Worldcoin’s AI Boom
The ORDI token, a BRC-20 token not officially affiliated with the Ordinals deployer or team, has experienced a remarkable surge in value. In the last few months, the token soared from $5 on November 1, 2023, to a high of $87 on March 5, 2024, as a frenzy for Ordinals-related assets took hold.
Meanwhile, Worldcoin has rapidly become a top choice for crypto investors seeking exposure to the burgeoning AI industry. The token’s price skyrocketed from $2.20 on February 7 to a high of $11.70 on March 10, 2024, as the broader AI token market boomed.
ORDI-PERP and WLD-PERP: A Potential Catalyst for All-Time Highs
The addition of perpetual futures contracts for ORDI and Worldcoin on Coinbase’s institutional trading platforms, Coinbase International Exchange and Coinbase Advanced, could have a significant impact on the prices of these tokens. Perpetual futures allow traders to speculate on the future price movements of the underlying assets, potentially leading to increased trading activity and, in turn, influencing the spot prices.
Both the ORDI token and Worldcoin achieved notable price milestones in early 2024. ORDI peaked at $82.80 on March 5th, while Worldcoin reached $11.82 on March 10th. While currently trading lower at $59.08 and $6.69, respectively (as of April 5th), the addition of perpetual futures contracts on Coinbase’s institutional platforms could fuel a resurgence, potentially enabling the tokens to reclaim or even exceed their prior all-time.
Moreover, with the highly anticipated Bitcoin halving event scheduled to take place in less than three weeks, the crypto market is bracing for a potential surge in prices. The Bitcoin halving, which occurs every four years, typically leads to a reduction in the supply of new Bitcoin, often resulting in a price rally. This could further contribute to the potential price surge for ORDI and Worldcoin.
Perpetual futures contracts allow for leveraged trading, which can significantly increase an asset’s trading volume. By adding the ORDI-PERP and WLD-PERP markets and introducing the contracts for ORDI and WLD, Coinbase is likely to boost the liquidity of these tokens. Increased liquidity generally translates to tighter bid-ask spreads and potentially less volatile price movements. This can make ORDI and WLD more attractive to investors seeking to enter or exit positions quickly and easily.
