dogecoin futures market to launch on Coinbase

[Abiky]

The BCH and LTC futures were launched successfully on April 1 and are already happily trading. I wondered of course what had happened to the DOGE futures and if they had to drop them.

But fortunately Coinbase yesterday issued an official statement, clarifying that the Dogecoin futures are coming "later this month". They also announced that the contract will be sized 5000 DOGE (around $800), which is in the same order of magnitude than the LTC and BCH contracts (5 LTC -> ~$500, 1 BCH -> ~$600).

Perhaps they wanted to avoid to launch DOGE futures on April 1 to avoid the association with a "prank"? On the other hand, as I mentioned before, for Doge it's the first financial product (I believe not only in the US but worldwide, I've researched a bit and in the German subforum I've made a list of those I found) outside of top altcoin basket products, so perhaps there's more preparation work to do.

Exciting times ahead for Dogecoin and the "meme" coins industry. If Coinbase launched futures trading, does this mean Dogecoin will get its own spot ETF in the future? Sounds crazy, but I've learned that anything's possible in crypto land. If DOGE gets a spot ETF, then it would be treated as a serious currency/investment than a joke. I can imagine prices going all the way to the moon afterwards.

It seems like the opening of futures trading had a positive impact over BCH and LTC's market prices lately. Especially BCH which went from around $200 to nearly $700 per coin. Who knows if current DOGE holders are about to get rich soon?

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[btc78]

Exciting times ahead for Dogecoin and the "meme" coins industry. If Coinbase launched futures trading, does this mean Dogecoin will get its own spot ETF in the future? Sounds crazy, but I've learned that anything's possible in crypto land.

Sounds crazy and maybe it really is. It might be possible but I don’t think it will be for a very long time. I like doge but I think they want to keep their credibility intact which means they won’t just throw away all etf approvals.

If DOGE gets a spot ETF, then it would be treated as a serious currency/investment than a joke. I can imagine prices going all the way to the moon afterwards.

Memecoins will definitely have a larger avenue to play in. It will create a huge change in the community.

[Volimack]

Meme coins have less excitement. Coinbase plans to introduce futures contracts for the cryptocurrency exchange Meme Cryptocurrency Dogecoin but I wonder if the SEC objects to classifying these as commodity futures vs security futures. All of these are derived from Bitcoin so it will be difficult to claim these securities once the Bitcoin ETF is approved.

[lixer]

The BCH and LTC futures were launched successfully on April 1 and are already happily trading. I wondered of course what had happened to the DOGE futures and if they had to drop them.

But fortunately Coinbase yesterday issued an official statement, clarifying that the Dogecoin futures are coming "later this month". They also announced that the contract will be sized 5000 DOGE (around $800), which is in the same order of magnitude than the LTC and BCH contracts (5 LTC -> ~$500, 1 BCH -> ~$600).

Perhaps they wanted to avoid to launch DOGE futures on April 1 to avoid the association with a "prank"? On the other hand, as I mentioned before, for Doge it's the first financial product (I believe not only in the US but worldwide, I've researched a bit and in the German subforum I've made a list of those I found) outside of top altcoin basket products, so perhaps there's more preparation work to do.

You might be right with what you said about them avoiding the prank calls but they should not worry about that because for sure people won't treat it like that, as they are already known to list these types of coins and tokens even before and as we can see, they are making this plan a reality because of that statement they released recently about DOGE and not only that but their proposed sized contract for it is also much higher compared to LTC and BCH when in fact they are more serious and much better coins.

Apart from them, those DOGE lovers are for sure prepared for this. This is an exciting and fresh update for them that they will surely like.

[FanEagle]

Exciting times ahead for Dogecoin and the "meme" coins industry. If Coinbase launched futures trading, does this mean Dogecoin will get its own spot ETF in the future? Sounds crazy, but I've learned that anything's possible in crypto land. If DOGE gets a spot ETF, then it would be treated as a serious currency/investment than a joke. I can imagine prices going all the way to the moon afterwards.

It seems like the opening of futures trading had a positive impact over BCH and LTC's market prices lately. Especially BCH which went from around $200 to nearly $700 per coin. Who knows if current DOGE holders are about to get rich soon?

Honestly,  this isn't going to help anyone but coinbase, I can guarantee that. Doge is already something silly and could be hyped like crazy, and to think that they are adding futures to it? That makes no sense.

By this logic, not that he needs any money at all, but Elon could simply just buy so many futures, incredible amount of puts, like keep getting them by hundreds of millions, and then tweet about it for a week, make insane return and get out. Does that make sense? I am not saying that's what we will see, I am just saying these things are possible with dogecoin because it is a meme project and a shitcoin. In the end, I am not putting my own money in so it doesn't matter to me, whoever wants to trade doge futures, they are on their own.