As an experienced analyst, I believe that Coinbase’s decision to list meme coins like Shiba Inu, Bonk, and Floki on its perpetual futures contracts represents a strategic move to cater to the growing demand for these popular cryptocurrencies in the market. This expansion into new listings is part of a larger trend by Coinbase to support a broader range of assets, which could potentially attract more traders and users to the exchange.
Coinbase, the leading cryptocurrency exchange in the United States, has announced its intent to add more cryptocurrencies to its perpetual futures contracts. Instead of established digital currencies, this time around they have chosen to focus on meme coins. Notable tokens set for listing include Shiba Inu (SHIB), Bonk (BONK), and Floki (FLOKI).
Coinbase Perpetuals To List New Meme Coins
As a crypto market analyst, I’m excited to share that Coinbase International Exchange revealed on May 24th their intention to introduce perpetual futures contracts for three meme coins themed around dogs: Shiba Inu, Bonk, and Floki. They made this announcement via an official X (formerly Twitter) post, specifying the trading commencement on Thursday, May 30th, starting from 9:30 am.
As a crypto investor, I’m excited about the announcement that Shiba Inu, Bonk, and Floki will be integrated into Coinbase’s derivatives market. This means that these popular coins will now be accessible for trading to Coinbase’s large user base. Since Coinbase restricts perpetual futures trading to non-US customers, this strategic move opens up more trading opportunities for me and other global crypto enthusiasts.
The crypto exchange has revealed that all transactions will take place on Coinbase International Exchange and Coinbase Pro, their subsidiary trading platform tailored for seasoned investors.
Coinbase announced the upcoming introduction of 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP listings. This means that derivatives traders on the platform will have access to 1,000 times the number of smart contracts for each of these cryptocurrencies.
As a crypto investor, I’ve noticed an exciting development in the derivatives market at my preferred exchange. Last month, they introduced new meme coins, Pepe (PEPE) and Dogecoin (DOGE), to their offerings. After their launch, the PEPE-PERP derivative contract became extremely popular among traders, making it one of the most actively traded meme coins in Coinbase’s derivatives market.
It’s likely that Coinbase expects a comparable surge in interest for its newly added meme coins based on current market trends. Shiba Inu, Bonk, and Floki are popular meme cryptocurrencies with significant demand, holding top positions in terms of market capitalization within the meme coin category.
As a crypto investor, I’ve noticed that Coinbase International Exchange has been expanding its offerings for popular cryptocurrencies in their perpetual futures contracts since the beginning of the month. In fact, just before the announcement of SHIB, BONK, and FLOKI listings, the exchange initiated trading for Ondo Finance (ONDO), Pyth Network (PYTH), and ZetaChain (ZETA) perpetual futures. This means that I now have more opportunities to diversify my crypto investments and potentially profit from price movements in these digital assets.
Shiba Inu, BONK And FLOKI Gain Momentum
As an analyst, I’ve observed that following Coinbase’s announcement of listing candidates, Shiba Inu, Bonk, and Floki have experienced fresh growth. Although there were minor decreases in the past week, SHIB‘s price has bounced back by approximately 4.55% over the last day, currently trading at $0.000024.
As an analyst, I’ve observed some intriguing price movements among the cryptocurrencies SHIB and FLOKI. Among these two, BONK displayed the most impressive growth, surging by 12.73% and reaching a price of $0.000036 at the moment. In contrast, Floki also experienced a noteworthy increase of 7.75%, which propelled its price to $0.00023.
As a crypto investor, I’ve noticed an intriguing development with Coinbase’s recent derivatives listing. This event might have positively influenced the prices of certain cryptocurrencies like Shiba Inu, Floki, and Bonk. However, their daily trading volumes have taken a hit. According to CoinMarketCap, Shiba Inu’s trading volume dropped by a whopping 54.93%, Floki experienced a decline of 40.44%, and Bonk saw a substantial drop of 47.56% in just 24 hours.
As an analyst, I’ve observed a downturn in trading activity across the board, which is indicative of pessimistic investor sentiment. However, I’ve also noticed that SHIB, BONK, and FLOKI have been steadily picking up steam despite market volatility and unfavorable conditions.
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2024-05-26 03:12