The largest cryptocurrency exchange in America, Coinbase It will list another round of cryptocurrencies for its perpetual futures contract, this time choosing meme coins and featuring notable tokens such as Shiba Inu (SHIB)And Bonk (Bonk) and Floki (Floki).
Coinbase Perpetuals to List New Meme Coins
On May 24, the international exchange Coinbase launched Announce It will start showing Perpetual futures contracts For three comic-themed coins, Shiba Inu, Bonk and Floki. The cryptocurrency exchange issued the official statement in an X (formerly Twitter) post, highlighting that the aforementioned cryptocurrencies will officially begin trading on Thursday, May 30, at or after 9:30 AM.
This move will signify the merging of Shiba Inu, Bonk and Floki into Coinbase Derivatives Market, which opens the way for trading these popular currencies to the broad user base of the cryptocurrency exchange. Given that Coinbase limits perpetual futures trading for non-US clients, this strategic move is poised to expand more trading opportunities for global cryptocurrency enthusiasts.
Additionally, the cryptocurrency exchange revealed that trades will be held Coinbase International Exchange And Advanced Coinbasea sub-trading platform designed specifically for more experienced traders.
Coinbase also revealed the upcoming launch of 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP. This means that the new list will contain smart contracts multiplied by 1000 for derivatives traders on the exchange.
Earlier last month, the cryptocurrency exchange introduced two more meme currencies, Baby (Baby and Dogecon (DOGE)) In financial derivatives contracts. After the launch, 1000PEPE-PERP became one of the most traded memes on the Coinbase derivatives market.
Coinbase is likely anticipating a similar increase in demand for its newly listed meme coins, given that Shiba Inu, Bonk, and Floki Highly sought-after cryptocurrencies On the market, it ranks in the top ten in terms of market capitalization among meme currencies.
Furthermore, since the beginning of the month, Coinbase International Exchange has expanded its support for several popular cryptocurrencies for its perpetual futures contracts. One day before the announcement of the listing of SHIB, BONK and FLOKI on the stock exchange unveil Start trading perpetual futures for Ondo Finance (ONDO), Pyth Network (PYTH) and ZetaChain (ZETA).
Shiba Inu, Bonk and Floki are gaining momentum
After the Coinbase listing announcement, Shiba Inu, Bonk, and Floki appeared saw new gains. Despite the marginal declines witnessed over the past week. SHIB price It has risen slightly by 4.55% in the past 24 hours, and is now trading at $0.000024.
Bonkwhich saw the highest gains between SHIB and FLOKIIt rose significantly by 12.73%, bringing its price to $0.000036 at the time of writing this report. Meanwhile, Floki saw a notable increase of 7.75%, bringing its price to $0.00023.
While Coinbase's new derivatives listing may have boosted the prices of these cryptocurrencies, their daily trading volume recorded a significant decline. According to CoinMarketCap, Shiba Inu's 24-hour trading volume dropped by 54.93%, Floki saw a 40.44% drop, and Bonk saw a massive 47.56% drop.
Although this decline in trading activity highlights pessimistic investor sentiment, SHIB, BONK and FLOKI are steadily gaining momentum despite market volatility and prevailing conditions.
Featured image created with Dall.E, chart from Tradingview.com
