Coinbase Base App Adds Hyperliquid Perpetuals with Up to 50x Leverage

Coinbase's Base App has integrated Hyperliquid perpetuals, giving eligible users access to over 290 markets for tokenized stocks and commodities, including Bitcoin and Ethereum. This move marks a shift in Base's focus from social features to trading and derivatives-driven adoption.

The integration of Hyperliquid perpetuals provides leverage up to 50x for specific assets, allowing traders to speculate on asset prices without holding the underlying assets. Perpetual futures represent about 75% of all trading in cryptocurrency, according to Chintan Turakhia, Coinbase's Head of Engineering.

Traders can access these markets through the Base App wallet without switching from their self-custodial wallets. The addition of perpetual futures is part of Base's strategy to emphasize trading, payments, and AI, after its initial focus on social features failed to attract users.