- Coinbase will list futures for Polkadot, Shiba Inu, Stellar, Avalanche, and Chainlink on or after July 15, 2024.
- Futures contracts allow traders to speculate on future price movements with reduced upfront capital requirements.
- Avalanche (AVAX) holds the largest market capitalization among the listed tokens, valued at $11.1 billion.
Coinbase has filed an official application with the Commodity Futures Trading Commission (CFTC) to list futures for five popular altcoins: Polkadot (DOT), Shiba Inu (SHIB), Stellar (XLM), Avalanche (AVAX), and Chainlink. The new futures products are scheduled to begin trading on or after July 15, 2024.
Coinbase has taken a substantial stride in its efforts to improve its product suite by incorporating these futures. This move aims to provide users with more flexible trading options.
Futures contracts are financial derivatives that bind the buyer or seller to purchase or sell an asset at a predetermined future date and price. As opposed to spot trading, future contracts enable traders to make investments on potential future price movements of these altcoins with a smaller initial investment.
Coinbase highlighted that this expansion will benefit members and their clients by giving them more opportunities to control risk, make predictions about market trends, and engage in the crypto economy with lower initial investment demands.
It is anticipated that this diversification of the product range will improve users’ overall trading experiences. Avalanche (AVAX) has the highest market capitalization among the five tokens, valued at $11.1 billion. Shiba Inu (SHIB) is second, with a market capitalization of $10.1 billion.
Coinbase is setting itself up to attract a wider range of traders and investors by introducing futures for these particular tokens. The new futures products are expected to provide additional tools for investors to safeguard their investments and profit from the volatility of the cryptocurrency market.
The action taken by Coinbase demonstrates its commitment to innovation and growth in the digital asset space. This initiative will ensure that the company remains at the top of the industry, offering advanced trading options and a broader product package.
Read Also
The post Coinbase to Launch Futures for Popular Altcoins: Polkadot, Shiba Inu, Stellar, Avalanche, and Chainlink appeared first on Crypto News Land.