[NEWS] Coinbase launches unlisted pre-market trading, first launch is EIGEN

Leading cryptocurrency exchange Coinbase has announced that it will launch pre-market trading of unlisted crypto assets on Coinbase International Exchange and Coinbase Advanced for users in eligible jurisdictions outside the US, UK, and Canada.

Leading cryptocurrency exchange Coinbase has announced that it will launch pre-market trading of unlisted crypto assets on Coinbase International Exchange and Coinbase Advanced for users in eligible jurisdictions outside the US, UK, and Canada.

Pre-market trading allows traders to trade perpetual futures contracts for crypto assets that have not yet launched.

These contracts will transition to standard perpetual futures contracts once the underlying crypto asset launches on the relevant spot exchange.

Coinbase's pre-market trading offers traders the opportunity to participate in price discovery of upcoming projects within a trusted and secure platform.

Traders can trade long and short positions in unlisted crypto assets with up to 2x leverage.

Institutional investors can trade pre-market on Coinbase International Exchange, while retail traders can trade pre-market on Coinbase Advanced.

To trade on Coinbase Advanced, simply log in to coinbase.com or the Coinbase mobile app, tap the menu and turn on Advanced.

Similar pre-market trading is offered by Binance, Bybit, Aevo, and others.

Please note that this is a futures trade for crypto assets that may be listed in the future, and the actual crypto asset may not be listed.

The first trading stock is EIGEN

The first trading stock is EigenLayer's "EIGEN" token, which will be available from 9:00 pm on the 18th.

EigenLayer is the most notable crypto asset. It is an Ethereum (ETH) staking platform, and in less than a year since it was released to users, the amount of deposits has already reached $16 billion.

EigenLayer was just a wallet on the Ethereum blockchain. While it suggested future rewards, it was a wallet with no real functionality.

As the main incentive model, users who deposited crypto assets in Eigenlayer were given points. Although the points themselves were not crypto assets, most users expected that the points would eventually be converted into crypto assets.

In addition to earning points, some people began trading the points themselves on platforms like Pendle, which offers "40x leverage" on points trading.

Eigenlayer's points program attracted and excited users, raising billions of dollars, but when the EIGEN token airdrop was announced, many users were trembling with anger.

This was because it became clear that the tokens would not be transferable until an unspecified date in the future. Pre-market trading was essential to resolve the dissatisfaction of those users. With Coinbase having achieved the resolution of the dissatisfaction of EIGEN token holders, pre-market trading of EIGEN tokens is likely to be successful.