Coinbase Perpetual Futures
Coinbase, the leading US cryptocurrency exchange, is adding three meme coins to its perpetual futures contracts: Shiba Inu (SHIB), Bonk (BONK), and Floki (FLOKI). Trading will begin on May 30th at 9:30 am.
This move expands Coinbase’s derivatives market to include these popular coins, giving users more trading options. However, perpetual futures trading is only available to non-US customers.
1000x Contracts
Coinbase will also introduce 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP contracts. These contracts multiply the underlying asset by 1,000, providing more leverage for derivatives traders.
Recent Meme Coin Additions
Coinbase recently added two other meme coins, Pepe (PEPE) and Dogecon (DOGE), to its derivatives contracts. 1000PEPE-PERP became one of the most traded meme coins on Coinbase.
Price Impact
Following Coinbase’s announcement, SHIB, BONK, and FLOKI experienced gains. SHIB rose by 4.55%, BONK by 12.73%, and FLOKI by 7.75%. However, their daily trading volume has declined significantly, suggesting some investor caution.
Market Momentum
Despite market volatility, SHIB, BONK, and FLOKI have maintained momentum. Their inclusion on Coinbase’s derivatives platform is a positive sign for their future growth and adoption.
