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Coinbase Derivatives Announces Launch of Margined Futures Contracts for Five Tokens

Introduction

Coinbase Derivatives, a US-based derivatives exchange, has announced plans to launch margined futures contracts for five tokens: Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHIB). The move marks a significant expansion of the exchange’s product offerings and is expected to increase market accessibility for these tokens.

Announcement and Filings

On June 28, Coinbase Derivatives published an announcement and submitted filings to the Commodity Futures Trading Commission (CFTC) to list each contract under a self-certification model. The exchange plans to launch the products on July 15.

Key Features and Benefits

The margined futures contracts will allow participants to manage risk, speculate on price movements, and invest with lower upfront capital requirements. Coinbase Derivatives will cooperate with the clearing house Nodal Clear, third-party futures commission merchants (FCMs), and retail brokers to facilitate the trading process.

Price Impact

The announcement did not have a significant impact on the price of the five tokens, which have been largely following the wider market downtrend. As of press time, LINK was trading at $13.7, down 4.3% over the past 24 hours. SHIB was down 3.7% and trading at $0.00002 per token, while DOT was down 1.9% to $6.19 per token. XLM fell 0.3%, and AVAX gained 0.3%. The two tokens were trading at $0.09 and $27.98, respectively.

Trading Volume

Coinbase Derivatives experienced $34.1 million in 24-hour open interest and $971.8 million in 24-hour volume on June 28. The exchange has previously offered various contracts, including Bitcoin (BTC) and Ethereum (ETH) futures, BTC nano futures, and ETH nano futures. It also offers crude oil and gold contracts.

How AI legalese decoder Can Help

The announcement of Coinbase Derivatives’ plans to launch margined futures contracts for five tokens highlights the complexities and nuances of the derivatives market. With the help of AI legalese decoder, investors and traders can gain a better understanding of the contracts and the market regulations surrounding them.

AI legalese decoder is a powerful tool that can analyze and decode complex legal language, making it easier to comprehend the terms and conditions of financial contracts. By using AI legalese decoder, investors and traders can make more informed decisions and reduce the risk of misunderstandings or misinterpretations.

Conclusion

The launch of margined futures contracts for five tokens on Coinbase Derivatives is an exciting development for the derivatives market. With its focus on regulated market accessibility, the exchange is poised to increase market participation and provide new opportunities for investors and traders. By using AI legalese decoder, investors and traders can gain a deeper understanding of the market and make more informed decisions.

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