The largest cryptocurrency exchange in America, Coinbase It revealed plans to list popular cryptocurrencies with a comic nature, Shiba Inu (SHIB) its futures contracts. The stock exchange has submitted an official application Submit files to the Commodity Futures Trading Commission (CFTC) to begin trading as soon as possible.
Coinbase to Add Shiba Inu to Futures Derivatives
Shiba Inu got a big boost from New futures contracts from Coinbase File submission, emphasizing the growing influence of meme coins in the crypto market despite the current market volatility. Coinbase announced in its official statement Blog post On June 28, new Futures Products List For its cryptocurrency derivatives products, which include the second largest meme, Shiba Inu and other popular cryptocurrencies.
According to the blog, Coinbase is set to be the first exchange in the United States to offer margined futures contracts for Shiba Inu and other cryptocurrencies. The crypto exchange has also introduced depository for its futures derivatives contracts to Commodity Futures Trading CommissionOn June 28, it provided details about the terms of the futures contracts, Market Volatility in Shiba Inucompliance with various regulatory requirements and other information related to the self-certification process.
Coinbase has revealed an addition Shiba Inu In new cryptocurrency derivatives contracts will allow participants and clients to improve Risk Management, speculating on price movements and actively interacting with the cryptocurrency economy with lower initial capital requirements. The cryptocurrency exchange revealed that its decision to offer margined futures contracts for the Shiba Inu highlighted its commitment to meeting the needs of its broad user base.
In addition, it also highlights the exchange’s dedication to consistently providing diverse and accessible trading options, which sets it apart from other exchanges in the world. Regulated futures market in the United StatesMoreover, this new recording is set to significantly Expanding its digital product offeringswhich could improve the overall trading experience for the user while maintaining a safe and reliable trading environment.
Aside from Shiba Inu, Coinbase will be adding additional cryptocurrencies to its crypto derivatives futures offering, including Avalanche (AVA), Chainlink (LNK), Polkadot (DOT), and Stellar (XLM). Coinbase revealed in a blog post that these futures products will officially launch and begin trading on Monday, July 15.
Shiba Inu Price Fails to Respond to New Coinbase Deposit
Despite Coinbase recently announcing a futures contract for Shiba Inu, the cryptocurrency’s price has fallen. Failed to testify Any major upward movement. It seems that the news that could have led to a slight upward trend for the popular meme coin had a slight impact on Shiba Inu Market Sentiment.
As of the time of writing, Shiba Inu price It continues to trade below the $0.00002 threshold, reflecting a 1.8% decline over the past 24 hours after a 38.91% decline over the past month. Since the beginning of June, he has been a Shiba Inu Noticeably poor performanceRecording continuous declines that pushed its price down to $0.000017.
Featured image from Reddit, chart from TradingView
