Coinbase’s Historic Acquisition Fuels Crypto Market Rally as ETH Surges

The cryptocurrency markets witnessed a significant rally this week, with Ethereum (ETH) leading the charge by surging nearly 15% to approach $2,300. This upward momentum was driven by the successful implementation of Ethereum’s Pectra upgrade, which aims to streamline staking processes and enhance network efficiency. Meanwhile, Bitcoin hovered near all-time highs, further boosting market sentiment. Adding to the bullish outlook, Coinbase made a historic acquisition, signaling strong confidence in the future of digital assets. Below is a detailed summary of these developments and their implications for the crypto market.

Crypto Markets Rally as ETH Surges and Coinbase Makes Historic Acquisition

Cryptocurrency markets experienced a broad upswing this week, with ethereum leading the charge. ETH surged nearly 15% to approach $2,300, buoyed by the successful implementation of its Pectra upgrade. The upgrade promises to streamline staking processes and enhance network efficiency, potentially marking a turning point for the asset that had underperformed in recent months.

Bitcoin hovered NEAR all-time highs as positive trading dynamics unfolded. Exchange-traded funds saw increased inflows while bearish positions faced liquidation. The CoinDesk 20 index, representing the broader market, climbed over 15% in a clear demonstration of renewed investor confidence.

Institutional activity reached new heights with Coinbase’s landmark $2.9 billion acquisition of Deribit, the pioneering crypto options platform. This record-breaking deal signals growing maturity in cryptocurrency markets as traditional finance players deepen their involvement.

Coinbase Launches 24/7 Bitcoin and Ethereum Futures Trading in U.S.

Coinbase has introduced round-the-clock Bitcoin and Ethereum futures trading for U.S. users through its CFTC-regulated subsidiary, Coinbase Derivatives. This marks the first regulated 24/7 crypto derivatives offering in the U.S., enabling continuous execution and risk management—even on weekends.

The launch follows Coinbase’s $2.9 billion acquisition of Deribit, signaling aggressive expansion in global derivatives markets. Both retail and institutional traders now gain access to futures contracts that mirror the non-stop nature of cryptocurrency markets.

Approved by the CFTC, the new product leverages Coinbase Derivatives’ infrastructure to maintain uninterrupted trading and clearing operations. The MOVE bridges the gap between traditional market hours and crypto’s perpetual activity cycle.