Stay Away from Crypto Derivatives
Mishaboar, a Dogecoin developer, has urged investors to avoid leverage and derivatives in the cryptocurrency market, especially ahead of Coinbase’s listing of Dogecoin futures. He emphasized that the current market is highly volatile and unpredictable, increasing the risk of significant losses.
Unfair Odds and High Risk
Mishaboar compared trading in the crypto derivatives market to gambling, where traders are at a disadvantage against market makers and exchanges. He stressed that the unfairness and risk involved are not worth it, especially in a volatile market.
Upcoming Bitcoin Halving and Market Turbulence
Mishaboar also cited the upcoming Bitcoin halving event as a potential catalyst for market turbulence, which would further increase risks for traders. The influx of liquidity from new markets and conflicts of interest from exchanges would add to the complexity of predicting market movements.
Coinbase’s Dogecoin and Pepe Futures
Coinbase recently announced plans to list Dogecoin futures in April, expanding its futures offerings to meet the growing demand from traders. Additionally, Coinbase will also add support for the Pepe (PEPE) meme coin in its perpetual futures offerings.
