Coinbase International has Announced an upcoming perpetual futures quote for Shiba Inu (SHIB) and other meme coins.
Coinbase International has Announced an upcoming perpetual futures quote for Shiba Inu (SHIB) and other meme coins.
Like traditional futures, perpetual futures are intended to replicate the price action of the underlying asset. The difference, however, is that they have no expiration date, which essentially means they can be kept indefinitely.
It’s worth noting that Coinbase perpetual futures are available only to non-US customers in select jurisdictions.
The exchange offers perpetual futures for a large number of cryptocurrencies including Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Bitcoin Cash (BCH), Pepe (PEPE), etc.
Gamza KhanzadaevEarlier this month, Coinbase also announced that it was on track to launch gold and oil futures due to growing demand from sophisticated traders.
Coinbase opened its offshore derivatives exchange last May. In September, it received regulatory approval to offer its futures to users outside the US.
Meme coins sink
According to CoinGecko, the price of SHIB is down more than 4% in the last 24 hours.
Tomiwabold OlajideMeanwhile, dogwifhat (WIF) has fallen as much as 7%, underperforming other meme coins.
Bonk (BONK) is the only meme cryptocurrency in the green after adding 3%.
Meme coins are underperforming due to a broader cryptocurrency market decline. Bitcoin is currently on track to lose the $67,000 level.
