US Coinbase Lists Futures Contract for Shiba Inu

Bittime - Coinbase US lists Shiba Inu (SHIB) futures contracts, with a minimum tick size of $0.00001 per SHIB and a tick value of $0.10 per contract. Even though the price fell 2%, Coinbase has weathered the volatility with their product and complies with CEA and CFTC regulations.

US Coinbase Lists Futures Contract for Shiba Inu

Shib futures are monthly contracts that are margined and settled in cash. Due to the cost and availability of Shiba Inu, the minimum tick size is $0.00001 per SHIB and the tick value is $0.10 per contract, so the total will be 10 million SHIB. When listed, Shiba Inu will merge with Dogecoin, which is another memecoin with futures contracts which is arranged.

While Coinbase admits that the token is volatile due to its low market capitalization and status as a memecoin, they say they have managed to navigate this uncertainty with existing products.

Futures Contracts Explained in Detail

In addition, how futures contracts will comply with all key principles of the Commodities Exchange Act (CEA), including non-easiness of manipulation and no market disruption, is explained in the implementation. The contract also limits the maximum number of positions to 30,000.

Shiba Inu (SHIB) Price Experiences a Decline

Shiba Inu (SHIB) price has dropped nearly 2% today despite news of its impending listing on a regulated exchange. According to the average value of traders, memecoin is one of the most undervalued digital assets, according to blockchain analytics firm Santiment.

Coinbase Self-Certification Strategy for Futures Listing

CFTC Rule 40.2(a) governs Coinbase's application. Designated contract markets (DCMs), such as Coinbase Derivatives, can list commodity products for trading without going through the CFTC's inspection system.

DCM can only demonstrate that the product does not violate the CEA or any CFTC regulations.

Conclusion

By adding this memecoin to its list of futures trading products, Coinbase US will list a futures contract for Shiba Inu (SHIB), with a minimum tick size of $0.00001 per SHIB and a tick value of 0.10 per contract, meaning 10 million SHIB per contract. With their product, Coinbase has addressed the volatility of SHIB. The main principles of the Commodities Exchange Act (CEA) govern these futures contracts, which limit the maximum position to 30,000.

Despite the news of this listing, SHIB price fell by almost 2%. To ensure compliance with CFTC regulations, Coinbase uses self-certification.

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