Bittime -Coinbase International Exchange (CIE) will add to their trading services by offering perpetual futures contracts (perpetual futures) for Dogwifhat (WIF), acryptocurrencythat recently experienced a significant price increase of 17.42%. This new feature will be available starting April 25, 2024, at 09:30 UTC, exclusively for users outside the United States.
The decision to include Dogwifhat futures follows a trend of increasing interest in memecoins, which are cryptocurrencies inspired by internet memes and social media trends.
Pepe Futures Contract Launch Delay
The launch of the Dogwifhat perpetual futures contract follows a minor delay to the launch of the Pepe-based perpetual futures contract (1000PEPE-PERP), which was originally planned for release on April 18, 2024. This schedule adjustment reflects the dynamic nature of the cryptocurrency market and Coinbase's ability to adapt to changing conditions and user interests .
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Coinbase and the Derivatives Market
Coinbase's move into the derivatives market is nothing new. It continues to expand its derivative product offerings, especially after gaining regulatory approval last year to provide such products to users outside the US in certain regions.
Despite the strict regulatory environment in the United States, Coinbase managed to obtain limited permission from the National Futures Association to offer crypto futures to a small group of US retail traders through their Coinbase Advanced platform.
Trading Volume Surge in Derivatives Market
The derivatives market has seen a substantial increase in trading volume, with reports surging to $6.18 trillion in the last month, marking an 86.5% increase. This growth in derivatives trading volume indicates strong market demand and is likely to be a driving factor in Coinbase's strategic expansion into this segment.
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Perpetual Futures Contract Dogwifhat
Perpetual futures contracts, such as the one offered for Dogwifhat, are designed to allow traders to speculate on future cryptocurrency price movements without an expiration date.
These contracts are settled regularly, usually every 24 hours, to ensure the futures price follows the underlying spot (cash market) price.
With the addition of Dogwifhat to Coinbase's lineup of perpetual futures products, it is expected to attract traders looking to capitalize on the volatility and profit potential associated with memecoins.
Coinbase and the Future of Crypto Markets
As the cryptocurrency market continues to mature, exchanges like Coinbase are increasingly seeking to diversify their product portfolios to include innovative trading instruments.
The release of the Dogwifhat perpetual futures contract demonstrates Coinbase's commitment to providing its users with access to a wide range of trading options, enhancing their ability to engage in the dynamic crypto market.
With this move, Coinbase strengthens its role in shaping the future trajectory for cryptocurrency trading and derivatives markets.
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How to Buy Dogwifhat (WIF) on Bittime
You can buy and sell Dogwifhat (WIF) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Dogwifhat (WIF) is available on Bittime with the market pair WIF/IDR . To be able to buy WIF IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Dogwifhat (WIF) on Bittime .
Monitor price chart movements of Dogwifhat (WIF), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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