Shiba Inu Perpetual Futures Now Live on Coinbase International Exchange and Coinbase Advanced

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2024/05/30/shiba-inu-perpetual-futures-now-live-on-coinbase-international-exchange-and-coinbase-advanced/ on 2024-05-30. Article ID: SD6215Tcf525e15. Author: Violet Vallaya. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2024/05/30/shiba-inu-perpetual-futures-now-live-on-coinbase-international-exchange-and-coinbase-advanced/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

Shiba Inu (SHIB) has gained another layer of accessibility for traders today as сoinbase International Exchange and Coinbase Advanced launched perpetual futures for the popular decentralized cryptocurrency.

Coinbase International Exchange and Coinbase Advanced began offering perpetual futures for SHIB starting today. This marks a significant development for the Shib ecosystem, potentially increasing accessibility and attracting new investors with a taste for leveraged trading.

@CoinbaseIntExch will add support for Bonk, FLOKI, and Shiba Inu perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP markets will begin on or after 9:30am UTC 30 MAY 2024. $BONK $FLOKI $SHIB pic.twitter.com/TNNAFEjtHH
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) May 23, 2024

Perpetual futures contracts are financial instruments that track the underlying asset (in this case, SHIB) but don’t have a fixed settlement date. Traders can now speculate on SHIB’s price movements in more ways than just traditional spot trading. Perpetual futures allow using leverage, which magnifies potential returns (and losses).

Perpetual futures markets can attract a wider range of traders, potentially leading to increased liquidity for SHIB. This translates to tighter bid-ask spreads and potentially smoother price discovery. Tighter spreads mean the difference between the price a buyer is willing to pay (bid) and the price a seller is willing to accept (ask) is smaller, reducing transaction costs.

Smoother price discovery refers to the process by which the market establishes a fair price for an asset, and perpetual futures can help to ensure that this process is more efficient.

Disclaimer: Violet has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers arе encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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VIOLET

Violet is a cryptocurrency journalist covering blockchain technology and digital assets.

Violet holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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