In just one week, Coinbase International, based in Bermuda, has garnered attention by processing approximately $100 billion in Bitcoin perpetual futures. This sudden surge in volume has driven Bitcoin perpetuals to the platform’s top spot, outperforming all other markets. Coinbase International’s Bermuda license allows it to provide new trading products, catering to a rising demand for crypto derivatives that are not subject to US restrictions.

Record-Breaking Growth in Trading Volume

Coinbase Global Exchange has witnessed a tremendous surge in derivatives market activity, with Bitcoin perpetual futures being the platform’s most actively traded asset.  In the past week, the exchange processed around $100 billion worth of BTC perpetual futures traffic, significantly outperforming other trading segments. 

The exchange saw a remarkable surge in activity, with weekly trading volume rising by 124% from the previous week, averaging around $20 billion in daily trades. That’s a significant increase from the $2.5 billion daily average observed in November 2024. The majority of this activity came from just five perpetual futures trading pairs: BTC, ETH, SOL, XRP, and DOGE, which together accounted for 99.8% of the total volume. Notably, BTC-PERP alone accounted for 57% of all trades.

The surge reflects recent market volatility caused by global tariff worries. The S&P 500 dropped 20% before rebounding, indicating more widespread economic stress. Bitcoin has also demonstrated remarkable resiliency, solidifying its status as “digital gold”, a trustworthy asset in uncertain environments. This trend was also reflected in traditional markets for gold, where prices rose above a record $3,200, reflecting increasing investor appetite for more secure, safe-haven assets.

Led by CEO Brian Armstrong and Vice President Greg Tusar, Coinbase International is taking advantage of shifting market trends.  By targeting Bitcoin perpetual futures, the platform aligns with wider crypto market trends, which observe exchanges working to come up with innovative trading instruments to keep up with shifting investor needs. Binance’s Changpeng Zhao also stresses the importance of growth and continuous innovation.

As of April 18, 2025, Bitcoin’s market price has risen to $84,922.96, bringing its total market worth to $1.69 trillion. This represents a 1.13% increase in the last 24 hours, according to CoinMarketCap. While trade volume has recently decreased, Bitcoin maintains its leading position in the market, accounting for 63.12% of the total. There are currently 19,852,803 Bitcoins in circulation, with a maximum supply of 21 million.

Strategic Expansion and Institutional Focus

• Geographic Expansion: The platform has entered the European and Australian markets, integrating with the EU’s Markets in Crypto-Assets (MiCA) regulations and broadening its worldwide reach. ​

• Enhanced Trading Features: The exchange increased its maximum leverage from 10x to 20x and will offer spot markets in late 2023, attracting a wider spectrum of traders.

• Institutional Orientation: Coinbase International, which predominantly serves non-US institutions, has established itself as a favored platform for professional traders seeking robust and compliant trading environments. ​

Conclusion

With ongoing global uncertainty reshaping investment strategies, the growing hegemony of Bitcoin perpetuals on Coinbase International shows not just a shift in trading volume but also a seismic change in market forces. 

Coinbase’s all-time highs in open interest and trading volumes data indicate more than a temporary boom; it is evidence of the company’s growing dominant role as a global crypto derivatives leader, as underscored by recent all-time highs in trading activity. It is not just a reflection of the platform’s expanding influence, but also of the evolving nature of global finance, where digital assets are increasingly being viewed as necessary tools for risk management and investment diversification.