According to a letter sent to the CFTC by Coinbase Derivatives, dogecoin It continues to move towards launching regulated futures for , as well as several other altcoins (Litecoin and Bitcoin Cash).
Dogecoin futures contract, coinbaseIt is based on the Market Vector Coinbase Dogecoin Benchmark Rate (“Index”), which tracks the price of meme coin in .
The Index also stands out because it is regulated by the German Federal Financial Supervisory Authority (“BaFin”). As we reported as Koinfinans.com, it succeeded in becoming the first company to obtain Coinbase’s cryptocurrency license.
Each Contract represents 5,000 Dogecoin. Coinbase limits position limit to 100,000 DOGEIt will set the equivalent of 20,000 DOGE futures.
According to data provided by the CoinGecko platform, Dogecoin is currently trading at $0.15 on major spot exchanges. DOGE was first launched by Billy Markus and Jackson Palmer in December 2013. Attracting great attention in a short time meme coin managed to capture a strong community.
In 2021, the price of the meme coin exploded due to endorsements from various well-known celebrities, including Tesla boss Elon Musk.
Coinbase, the largest US exchange, first announced its plan to open a derivatives exchange last May. In June, it announced that it would offer institutional Bitcoin and Ethereum futures.
