Coinbase International Exchange (CIE) and Coinbase Advanced, are gearing up to bring perpetual futures trading to dogwifhat memecoin ($WIF) later this month. The service will be available to non-US users and open access to perpetual futures trading for Solana-based memecoins, WIF, on April 25 at 09:30 UTC.
What is Perpetual Futures Trading?
Perpetual futures trading is a type of derivatives trading in which traders buy or sell contracts for an underlying asset at an agreed price in the future, with no expiration date.
That is, traders can choose to hold their positions for as long as they want, unlike traditional futures contracts that have a defined expiration date.
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Advantages of Perpetual Futures Trading
Perpetual futures trading offers several advantages to traders, including:
Leverage: Traders can use leverage to increase their profit potential, but keep in mind that leverage can also magnify potential losses.
Hedging: Traders can use perpetual futures to protect their portfolio from price fluctuations, by taking short positions on assets that they believe will drop in value.
Speculation: Traders can use perpetual futures to speculate on the direction in which the future price of an asset will move.
It should be noted that perpetual futures trading carries a high level of risk and is not suitable for all traders. Traders should have a good understanding of how the derivatives market works and have a high risk tolerance before engaging in this type of trading.
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Growth of the Derivatives Market
The development comes amid significant growth in the derivatives market. Last month, derivatives trading volume increased by 86.5%, reaching $6.18 trillion.
Celsius Network, a crypto lending platform, recently transferred $24.5 million in Ethereum (ETH) tokens to Coinbase at an average price of $3,022 per ETH. The transfer is one of the largest in the industry and has been highlighted by leading blockchain analytics firm Spot On Chain.
Celsius Network's financial recovery strategy has involved a modified payment plan and the insolvency code offers several options for debt distribution. The platform recently announced that it has started paying their crypto and fiat creditors a total of 3 billion dollars, consolidating the bankruptcy procedure.
Conclusion
This week is marked by various interesting developments in the crypto world. Major crypto exchanges such as Coinbase and Binance are expanding their offerings by adding new products and services, reflecting the overall growth of the market. On the other hand, Celsius Network, a struggling crypto lending platform, is making steps to overcome its financial difficulties.
These developments demonstrate the dynamics and complexity of the crypto industry, with various opportunities and challenges emerging on an ongoing basis. It is important for investors and users to stay up to date and conduct thorough research before making any investment decisions.
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How to Buy Dogwifhat (WIF) on Bittime
You can buy and sell Dogwifhat (WIF) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Dogwifhat (WIF) is available on Bittime with the WIF/IDR market pair. To be able to buy WIF IDR at Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy Dogwifhat (WIF) on Bittime.
Monitor the 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.
Also read:
Choose WIF (DogwifHat) or Dogecoin (DOGE)? When WIF Reaches 4$ Market Cap
Dogwifhat (WIF) has gone up a lot, is it still worth buying?
Dogwifhat (WIF), Solana Network's Memecoin Soars 200%
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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