America’s
largest
crypto
exchange,

Coinbase

has
revealed
plans
to
list
popular
doggy-themed
cryptocurrency,

Shiba
Inu
(SHIB)

for
its
futures
contracts.
The
exchange
has
submitted
an
official

filing

to
the
Commodity
Trading
Futures
Commission
(CFTC)
to
begin
trading
as
soon
as
possible. 

Coinbase
To
Add
Shiba
Inu
To
Futures
Derivatives
Contracts

Shiba
Inu
has
gotten
a
major
boost
from

Coinbase’s
new
futures
contracts

filing,
underscoring
the
meme
coins
growing
influence
in
the
crypto
market
despite
present
market
volatility.
Coinbase
announced
in
its
official

blog
post

on
June
28,
a
new

list
of
futures
products

for
its
crypto
derivatives
products,
featuring
the
second-largest
meme
coin,
Shiba
Inu
and
other
popular
cryptocurrencies. 

 

According
to
the
blog,
Coinbase
is
set
to
be
the
first-ever
United
States
(US)
exchange
to
offer
margined
future
contracts
for
Shiba
Inu
and
other
cryptocurrencies.
The
crypto
exchange
also
submitted
its
futures
derivatives
contracts
filing
to
the

CFTC,
on
June
28,
providing
details
on
the
terms
of
the
futures
contracts,

Shiba
Inu’s
market
volatility,
compliance
with
several
regulatory
conditions
and
other
information
related
to
its
self-certification
process. 

Coinbase
has
disclosed
that
the
addition
of

Shiba
Inu

into
its
new
crypto
derivatives
contracts
will
allow
its
participants
and
clients
to
better

manage
risks,
speculate
on
price
movements
and
effectively
engage
with
the
crypto
economy
with
an
initial
lower
capital
requirement.
The
crypto
exchange
revealed
that
its
decision
to
offer
margined
futures
contracts
for
Shiba
Inu
highlighted
their
commitment
to
catering
to
the
needs
of
its
extensive
user
base. 

Additionally,
it
also
illuminates
the
exchange’s
dedication
to
continually
providing
diverse
and
accessible
trading
options
which
distinguishes
it
from
other
exchanges
in
the

US
regulated
futures
market.
Moreover,
this
new
filing
is
set
to
significantly

expand
its
digital
product
offerings,
potentially
enhancing
its
user’s
overall
trading
experience
while
maintaining
a
safe
and
reliable
trading
environment. 

 

Excluding
Shiba
Inu,
other
cryptocurrencies
Coinbase
will
add
to
its
crypto
derivatives
futures
contracts
include
Avalanche
(AVA),
Chainlink
(LNK),
Polkadot
(DOT),
and
Stellar
(XLM).
Coinbase
has
revealed
in
its
blog
post
that
these
futures
products
will
officially
launch
and
begin
trading
on
Monday,
July
15.

Shiba
Inu
Price
Fails
To
React
To
Coinbase
New
Filing

Despite
Coinbase’s
recent
announcement
of
a
Shiba
Inu
futures
contract,
the
price
of
the
cryptocurrency
has

failed
to
witness

any
significant
upward
movement.
The
news
which
could
have
triggered
a
slight
bullish
trend
for
the
popular
meme
coin
seems
to
have
had
a
minor
impact
on
the

Shiba
Inu’s
market
sentiment. 

As
of
writing,
the

price
of
Shiba
Inu

continues
to
trade
below
the
$0.00002
threshold,
reflecting
a
1.8%
decline
in
the
last
24
hours
after
crashing
by
a
substantial
38.91%
over
the
past
month.
Since
the
start
of
June
Shiba
Inu
has
been

underperforming
significantly,
recording
consistent
declines
which
has
pushed
its
price
down
to
$0.000017. 

Featured
image
from
Reddit,
chart
from
TradingView

Go to Source
Author: Scott Matherson

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