Coinbase: Providing Perpetual Futures Trading for BONK, FLOKI, and SHIB on Global Exchange

Coinbase International Exchange has announced the launch of perpetual futures trading for three notable meme coins: BONK, FLOKI, and SHIB.

This development highlights the growing maturity of these canine-themed coins as digital assets, with SHIB’s trading volume already experiencing a significant surge post-announcement.

Learn more about Coinbase’s latest offering designed for institutional investors outside the United States.

Adoption of Leading Canine-Themed Coins

On May 24, 2024, Coinbase International Exchange, the global derivatives trading platform of Coinbase, announced its plan to offer perpetual futures trading for BONK, FLOKI, and SHIB.

These three notable canine-themed coins will be available for perpetual futures trading starting May 30, 2024.

Coinbase International Exchange is a derivatives trading platform aimed at institutional investors outside the United States. In addition to offering derivatives trading services, it also provides spot trading services for cryptocurrencies.

The recent announcement details the launch of perpetual futures trading services for BONK, FLOKI, and SHIB, all of which are prominent cryptocurrencies within the meme coin category.

These perpetual futures contracts will allow traders to engage in derivatives trading without a set expiration date, unlike traditional futures contracts.

Perpetual futures combine elements of spot trading, traditional futures, and contracts for difference (CFD). Unlike standard futures contracts, perpetual futures do not have an expiry date, allowing traders to hold their positions indefinitely.

In traditional futures trading, contracts are settled at a predetermined maturity date. Perpetual futures, however, enable traders to maintain their positions without any time constraints.

The services offered by Coinbase International Exchange are specifically designed for institutional investors located outside the United States.

In contrast, Coinbase Advanced caters to more experienced traders, providing a high-performance trading platform tailored to their needs.

The introduction of perpetual futures trading for BONK, FLOKI, and SHIB reflects a recognition of these cryptocurrencies as mature digital assets.

Following Coinbase’s announcement, the trading volume of Shiba Inu (SHIB) reportedly surged by over 50%, indicating a positive market response.