Altcoins
Coinbase Files with CFTC to List Altcoin Futures, Including Polkadot and Shiba Inu
Coinbase has announced plans to list futures contracts for five altcoins, including Polkadot (DOT) and Shiba Inu (SHIB), marking a significant expansion in their product offerings. The move is aimed at providing more entry points for risk management and price speculation within the cryptocurrency market.
Coinbase has filed with the Commodity Futures Trading Commission (CFTC) to list futures contracts for five altcoins: Polkadot (DOT), Shiba Inu (SHIB), Stellar (XLM), Avalanche (AVAX), and Chainlink (LINK). These futures products are expected to begin trading on July 15, 2024.
The addition of these futures marks a significant expansion in Coinbase’s product offering. Futures contracts are financial derivatives that obligate a buyer to buy, or a seller to sell, an asset at an agreed-upon future date and price, allowing traders to speculate on price movements with less upfront capital than spot trading.
In a statement, Coinbase highlighted the benefits of these new futures products, highlighting their potential to provide more entry points for managing risk, speculating on price movements, and engaging in the cryptocurrency market with less upfront capital.
Among tokens, Avalanche (AVAX) has the largest market cap, valued at $11.1 billion, followed by Shiba Inu (SHIB) at $10.1 billion. This move is in line with Coinbase’s strategy to broaden its appeal to a wider range of traders and investors, offering more tools to hedge investments and take advantage of market volatility.
This development underscores Coinbase’s commitment to growth and innovation in the digital assets space, with the goal of maintaining its leadership in the cryptocurrency space.
While we are on the topic of promising opportunities in the cryptocurrency market, another noteworthy token is PawFury (PAW). With a successful presale that raised $4.2 million at a current price of $0.01040 and forecasts suggesting it could hit $1 by the end of 2024, PawFury stands out as a potential high-yield investment. Analysts highlight PawFury’s mix of innovation and community involvement, making it a great choice for investors looking to diversify and capitalize on new opportunities.
To celebrate the success of PawFury, there is a limited time offer where you can use the promo code EXTRA10X to get an extra 10% bonus.
Summary
Coinbase’s announcement to list futures contracts for five altcoins, Polkadot (DOT), Shiba Inu (SHIB), Stellar (XLM), Avalanche (AVAX), and Chainlink (LINK), signals a significant expansion of their product offerings. These futures will allow traders to speculate on price movements and manage risk more effectively within the cryptocurrency market, starting July 15, 2024, pending CFTC approval.
This strategic move by Coinbase aims to cater to a broader audience of traders and investors, capitalizing on the popularity and market capitalization of tokens such as Avalanche (AVAX) and Shiba Inu (SHIB), valued at $11.1 billion and $10.1 billion, respectively.
Meanwhile, PawFury (PAW) has emerged as a promising investment opportunity, having raised $4.2 million in its presale with a current price of $0.01040. As the cryptocurrency landscape evolves with new offerings and opportunities, including those from established platforms like Coinbase and emerging tokens like PawFury, investors should conduct thorough research to manage risks and capitalize on potential rewards.
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