Time has no grip on the Cryptos markets. Coinbase has just broken the shackles of fixed schedules by announcing the 24-24 and 7 days a week of term contracts on Bitcoin and Ethereum for American residents. A revolution which, beyond simplifying access, redefines the rules of the game in the face of fierce competition. But behind this audacity hide subtle issues: regulation, technical innovation and battle to dominate a market of derivatives in full explosion.
Bitcoin without limits: When Coinbase reinvents liquidity
A market that never cligs eyes? It is now reality for American traders. By launching term contracts perpetual On Bitcoin and Ethereum, Coinbase removes the planned obsolescence of conventional contracts.
More restrictive expiration dates, more anxiety -provoking calculations to anticipate fences. An unprecedented fluidity, designed to marry the frantic pace of cryptos, where every second counts.
However, this freedom has a price: regulatory complexity. THE perpetualsthese contracts without maturity, have long remained the prerogative of offshore platforms, deemed too risky by the American authorities.
Coinbase plays a daring bet here: collaborate with the CFTC (Commodity Futures Trading Commission) to clarify the rules. A meticulous dance step between innovation and conformity, where each movement is scrutinized. If the balance is found, America could finally catch up in the face of platforms like Binance or Bybit, dominant outside its borders.
The figures also speak for themselves. According to Alphapoint, the Cryptos derivative market reached $ 1,300 billion in monthly volume in September 2023, crushing the cash market. By opening the non-stop trading valves, Coinbase does not only respond to latent demand-it captures a titanic flow, long ignored for fear of regulatory wrath.
CME, Robinhood: the war of contracts intensifies
In the derivative arena, Coinbase is not alone. Faced with it, the CME Group, a historic giant, displays an average daily volume of $ 10 billion on its crypto contracts – but with a surprising limit: a weekly break on Sunday. Anachronism in the era of algorithms and traders robots. However, the CME remains a formidable opponent, with annual income exceeding $ 6 billion and an unequaled institutional credibility.
Robinhood, the other rival, focuses on simplicity. The platform, known for its consumer approach, unveiled its own Bitcoin and Ethereum term contracts in January. A predictable movement, but which underlines a trend: the democratization of sophisticated instruments.
Cornerbaseshe bet on expertise. Its dedicated subsidiary, Coinbase Financial Markets, already offers derivatives in the United States. By extending her schedules, she seduces professionals-those for whom New York night is the Asian day.
But the real fight is played out elsewhere. He opposes two visions: that of a mature crypto market, integrated into traditional standards, against that of a rebellious ecosystem, pushing the limits. Coinbase embodies this duality. By working hand in hand with regulators, she legitimizes perpetual contracts without denying the disruptive DNA of cryptos. A fragile balance, where each decision can either strengthen the confidence of investors, or arouse their distrust, especially in a context of withdrawal from bitcoin and dollar.
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