Coinbase, the leading crypto exchange in the United States, has revealed its intention to include the Shiba Inu crypto for trading futures contracts.
The exchange has submitted a formal document to the Commodity Futures Trading Commission (CFTC) in order to initiate trading in the near future. Despite the current volatility, this move underscores the increasing influence of Shiba Inu in the crypto market.
Coinbase is poised to become the inaugural U.S. exchange to provide leveraged futures contracts for Shiba Inu and other digital assets. The CFTC file provides specific information about the terms of the futures contracts, the market volatility of Shiba Inu, compliance with regulations, and other certification data.
The exchange intends to incorporate Shiba Inu into its futures contracts to facilitate risk management, enable speculation on price fluctuations, and encourage greater involvement in the crypto economy with reduced starting capital requirements.
The upcoming filing is anticipated to broaden Coinbase’s range of digital services, enhancing the trading experience and guaranteeing a secure environment.
Contrary to the announcement, the price of Shiba Inu has not experienced a substantial growth. Instead, it has declined to $0.000017 since June. The addition of Shiba Inu to Coinbase’s futures contracts is a significant advancement, indicating increasing recognition of meme currencies in widely-used financial instruments and the possibility of wider use and stability in the future.
On June 16, the Shiba Inu team has announced the upcoming launch of the SHIB Eternity blockchain game that can be played for free on mobile devices and TREAT tokens.
