America’s largest crypto exchange, Coinbase revealed plans to list the popular doggy-themed cryptocurrency, Shiba Inu (SHIB) for its futures contracts. The exchange sent an officer to fill to the Commodity Trading Futures Commission (CFTC) to start trading as soon as possible.
Coinbase To Add Shiba Inu To Futures Contracts
The Shiba Inu has gained great strength New Coinbase futures contracts installation, underlines the growing meme coins in the crypto market despite the current market volatility. Coinbase announced its official blog post June 28, new list of future products with its crypto derivatives, including the second largest meme coin, Shiba Inu and other popular cryptocurrencies.
According to the blog, Coinbase will be the first exchange in the United States (US) to offer limited futures contracts for Shiba Inu and other cryptocurrencies. The crypto exchange also posted its futures contracts that include the The CFTCon June 28, detailing the terms of futures contracts, The dynamics of the Shiba Inu marketcompliance with several regulatory conditions and other information related to its self-certification process.
Coinbase revealed that the addition of Shiba Inu in its new crypto derivatives contracts will allow its participants and customers to be better off manage risks, consider price movements and effectively interact with the crypto economy with the initial need for low capital. The crypto exchange stated that its decision to offer limited Shiba Inu futures contracts highlighted its commitment to serving the needs of its broad user base.
Additionally, it also highlights the exchange’s commitment to continuously providing diverse and accessible trading options that differentiate it from other markets. The futures market is controlled by the US. In addition, this new file installation is very set expanding its digital product offeringswhich may enhance its user’s comprehensive trading experience while maintaining a safe and reliable trading environment.
Besides Shiba Inu, other cryptocurrencies Coinbase will add to its crypto futures contracts include Avalanche (AVA), Chainlink (LNK), Polkadot (DOT), and Stellar (XLM). Coinbase revealed in its blog post that these future products will officially launch and begin trading on Monday, July 15.
Shiba Inu Price Fails To Respond To New Coinbase Additions
Despite Coinbase’s recent announcement of the Shiba Inu futures contract, the price of the cryptocurrency has failed to testify any significant upward movement. Stories that might have caused a slight trend in the popular meme coin seem to have had little effect on Shiba Inu market experience.
As written, i Shiba Inu price continues to trade below the $0.00002 threshold, representing a 1.8% decline in the last 24 hours after a massive 38.91% crash in the past month. Since the beginning of June Shiba Inu has been very inefficientrecording a steady decline that brought its price down to $0.000017.
Featured image from Reddit, chart from TradingView
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