Coinbase Akan Hadirkan Kontrak Berjangka Perpetual untuk Trio Meme Anjing SHIB, BONK dan FLOKI

Coinbase Lists Memecoin Trio for Perpetual Futures

Leading US crypto exchange Coinbase is listing another round of cryptocurrencies for its perpetual futures contracts, this time opting for the popular dog-themed memecoin trio of Shiba Inu (SHIB), Bonk (BONK), and Floki (FLOKI).

Coinbase Perpetuals Welcome New Memecoins

Bitcoinist reports that Coinbase International Exchange has announced the addition of three canine-themed memecoins, Shiba Inu, Bonk, and Floki, to its perpetual futures contracts.

An official statement via a post on confirmed that the three cryptocurrencies will start trading next Thursday (May 30, 2024).

The move marks a significant step in integrating Shiba Inu, Bonk, and Floki into Coinbase's derivatives market.

By doing so, Coinbase aims to provide its vast user base with more diversified trading opportunities.

It's worth noting that perpetual futures trading on Coinbase is limited to non-US customers, making this a strategic move to appeal to global crypto enthusiasts.

Trading for the new meme tokens will be available on Coinbase International Exchange and Coinbase Advanced, a subsidiary platform tailored for more experienced traders.

The introduction of perpetual futures for these tokens signals a broader strategy to capitalize on the growing interest in memecoins within the crypto community.

New Perpetual Futures Contracts Launch

Coinbase has rolled out the launch of 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP. These contracts, multiplied by 1,000, are designed to offer derivatives traders enhanced trading options on the exchange.

This development follows the introduction of two other memecoins, Pepe (PEPE) and Dogecoin (DOGE), to Coinbase's derivatives contracts last month. Notably, 1000PEPE-PERP has quickly become one of the most actively traded memecoins on the exchange's derivatives market.

Coinbase likely anticipates a similar surge in demand for Shiba Inu, Bonk, and Floki, given their high popularity and market capitalization among memecoins.

These tokens have consistently ranked among the top 10 by market cap, reflecting their strong following and trading activity.

Recent Expansions and Market Reaction

Since the beginning of the month, Coinbase International Exchange has been expanding its support for popular cryptocurrencies on its perpetual futures contracts.

A day before announcing the listing of SHIB, BONK, and FLOKI, Coinbase started offering trading for Ondo Finance (ONDO), Pyth Network (PYTH), and ZetaChain (ZETA) perpetual futures contracts.

While the new derivatives listings may have had a positive impact on the prices of these cryptocurrencies, their daily trading volumes have seen a significant decline. According to CoinMarketCap, Shiba Inu's 24-hour trading volume dropped by 54.93%, Floki's by 40.44%, and Bonk's by 47.56%.

This decline mirrors a broader trend of reduced trading activity, likely driven by market volatility and cautious investor sentiment.