Coinbase, one of many main cryptocurrency exchanges, has revealed plans to roll out perpetual futures contracts for 3 outstanding meme cash: Shiba Inu (SHIB), FLOKI, and BONK. These perpetual futures contracts will likely be accessible for buying and selling on Coinbase International Exchange and Coinbase Advanced platforms.
Coinbase Expands Derivatives Offering with SHIB, FLOKI, and BONK
Coinbase International Exchange in a submit on X on May 23 introduced Bonk, FLOKI, and Shiba Inu perpetual futures itemizing. The assist for added meme cash by the crypto trade signifies huge meme cash buying and selling on the Coinbase International Exchange and Coinbase Advanced.
Users can begin buying and selling 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP from 9:30 am UTC on May 30, 2024. These new futures contracts mirror Coinbase’s strategic effort to supply a diversified buying and selling expertise for crypto fanatics and traders.
Meme cash Shiba Inu, Floki, and Bonk are prone to witness a large upside momentum after the itemizing subsequent week. Dogecoin, Pepe Coin, and dogwifhat meme cash are among the many most traded crypto on the Coinbase International Exchange and Coinbase Advanced.
Coinbase International Exchange additionally opened buying and selling for ONDO-PERP, PYTH-PERP, and ZETA-PERP at the moment, rising the crypto supported by the platform to 47 cryptocurrencies. The derivatives buying and selling trade recorded $1.27 billion in buying and selling volumes at the moment, with whole open curiosity rising to $33.39 million.
Also Read: Coinbase Loses Supreme Court Case Over Dogecoin Dispute
SHIB, FLOKI, BONK to Rally?
Listing on Coinbase platforms will likely be a serious catalyst for worth upsurge in Bonk, FLOKI, and Shiba Inu. Traders didn’t react instantly to the announcement, however these meme cash are prone to witness a rally just like PEPE after Coinbase introduced the itemizing.
SHIB price is down 5% previously 24 hours and 1% up in every week. The worth is at the moment buying and selling at $0.00002451. The 24-hour high and low are $0.00002409 and $0.00002568, respectively. Furthermore, the buying and selling quantity has decreased by 30% within the final 24 hours, indicating a decline in curiosity amongst merchants.
FLOKI price has dropped 2% within the final 24 hour after a greater than 10% leap final week, with buying and selling volumes nonetheless intact on the upper development.
Meanwhile, BONK price jumped 5% within the final 24 hours, with the worth at the moment buying and selling at $0.00003488. The worth has rallied over 46% in every week and 55% in a month.
Also Read: Gary Gensler Praises US SEC’s Achievements in Court on Crypto Cases
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